American International Group Inc. Grows Stake in LegacyTexas Financial Group, Inc. (LTXB)
American International Group Inc. raised its holdings in shares of LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) by 6.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,828 shares of the financial services provider’s stock after buying an additional 2,141 shares during the quarter. American International Group Inc. owned about 0.08% of LegacyTexas Financial Group worth $1,470,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Balyasny Asset Management LLC purchased a new stake in shares of LegacyTexas Financial Group in the second quarter valued at about $10,648,000. Phocas Financial Corp. purchased a new stake in shares of LegacyTexas Financial Group in the second quarter valued at about $9,212,000. Kennedy Capital Management Inc. grew its holdings in shares of LegacyTexas Financial Group by 47.5% in the second quarter. Kennedy Capital Management Inc. now owns 609,203 shares of the financial services provider’s stock valued at $23,229,000 after purchasing an additional 196,209 shares during the period. Stieven Capital Advisors L.P. acquired a new position in LegacyTexas Financial Group in the second quarter valued at about $7,229,000. Finally, Wells Fargo & Company MN lifted its position in LegacyTexas Financial Group by 33.3% in the second quarter. Wells Fargo & Company MN now owns 755,477 shares of the financial services provider’s stock valued at $28,807,000 after buying an additional 188,910 shares during the last quarter. 84.45% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on LTXB. ValuEngine cut shares of LegacyTexas Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. SunTrust Banks reaffirmed a “buy” rating and issued a $47.00 target price on shares of LegacyTexas Financial Group in a research report on Wednesday, November 29th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $46.50 target price on shares of LegacyTexas Financial Group in a research report on Friday, August 25th. Finally, Zacks Investment Research raised shares of LegacyTexas Financial Group from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. LegacyTexas Financial Group presently has an average rating of “Hold” and an average target price of $44.75.
In other news, Director Greg Wilkinson sold 5,000 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $43.00, for a total transaction of $215,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director George A. Fisk sold 22,500 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $42.00, for a total transaction of $945,000.00. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock worth $2,082,500 in the last three months. Corporate insiders own 3.10% of the company’s stock.
LegacyTexas Financial Group, Inc. (NASDAQ LTXB) opened at $39.67 on Friday. LegacyTexas Financial Group, Inc. has a 1 year low of $31.50 and a 1 year high of $44.94. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.15 and a quick ratio of 1.15. The company has a market cap of $1,910.00, a PE ratio of 19.26, a price-to-earnings-growth ratio of 1.54 and a beta of 1.23.
LegacyTexas Financial Group (NASDAQ:LTXB) last posted its earnings results on Tuesday, October 24th. The financial services provider reported $0.61 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.61. The company had revenue of $91.10 million for the quarter, compared to analysts’ expectations of $91.51 million. LegacyTexas Financial Group had a net margin of 24.77% and a return on equity of 10.85%. LegacyTexas Financial Group’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 earnings per share. equities research analysts forecast that LegacyTexas Financial Group, Inc. will post 2.19 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 20th. Stockholders of record on Monday, November 6th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Friday, November 3rd. This is a boost from LegacyTexas Financial Group’s previous quarterly dividend of $0.15. LegacyTexas Financial Group’s dividend payout ratio is currently 30.19%.
LegacyTexas Financial Group Profile
LegacyTexas Financial Group, Inc is a bank holding company. LegacyTexas Bank (the Bank) is the Company’s principal operating subsidiary, which is a commercial bank that is focused on meeting the needs of businesses and consumers in the North Texas area. Its principal business consists of attracting retail deposits from general public and business community and investing those funds, along with borrowed funds, in commercial real estate loans, secured and unsecured commercial and industrial loans, as well as permanent loans secured by first and second mortgages on one- to four-family residences and consumer loans.
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