BidaskClub downgraded shares of LegacyTexas Financial Group (NASDAQ:LTXB) from a hold rating to a sell rating in a research note published on Friday morning.

Several other research firms also recently weighed in on LTXB. Stephens upgraded shares of LegacyTexas Financial Group from an equal weight rating to an overweight rating and upped their price objective for the stock from $41.00 to $48.00 in a report on Thursday, July 19th. Raymond James lowered their price objective on shares of LegacyTexas Financial Group from $48.00 to $47.00 and set an outperform rating on the stock in a report on Thursday. Zacks Investment Research upgraded shares of LegacyTexas Financial Group from a sell rating to a hold rating in a report on Saturday, July 21st. Hovde Group restated a hold rating and set a $46.00 price objective on shares of LegacyTexas Financial Group in a report on Friday, July 20th. Finally, Piper Jaffray Companies restated a buy rating and set a $49.50 price objective on shares of LegacyTexas Financial Group in a report on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $48.69.

LTXB traded down $0.74 during trading on Friday, hitting $40.14. 226,682 shares of the company’s stock were exchanged, compared to its average volume of 356,292. The company has a current ratio of 1.15, a quick ratio of 1.16 and a debt-to-equity ratio of 1.03. LegacyTexas Financial Group has a fifty-two week low of $35.16 and a fifty-two week high of $47.18. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 1.46 and a beta of 1.42.

LegacyTexas Financial Group (NASDAQ:LTXB) last released its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.09. LegacyTexas Financial Group had a net margin of 24.77% and a return on equity of 12.44%. The firm had revenue of $98.89 million for the quarter, compared to the consensus estimate of $97.73 million. During the same quarter in the prior year, the company posted $0.61 earnings per share. As a group, equities analysts forecast that LegacyTexas Financial Group will post 2.8 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Monday, October 29th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, October 26th. This represents a $0.88 annualized dividend and a dividend yield of 2.19%. This is an increase from LegacyTexas Financial Group’s previous quarterly dividend of $0.16. LegacyTexas Financial Group’s dividend payout ratio is currently 29.36%.

Several hedge funds have recently made changes to their positions in LTXB. First Citizens Bank & Trust Co. purchased a new stake in shares of LegacyTexas Financial Group in the third quarter valued at about $210,000. Capital Fund Management S.A. bought a new position in LegacyTexas Financial Group during the second quarter valued at about $230,000. WINTON GROUP Ltd bought a new position in LegacyTexas Financial Group during the first quarter valued at about $234,000. Aperio Group LLC grew its position in LegacyTexas Financial Group by 19.7% during the second quarter. Aperio Group LLC now owns 7,360 shares of the financial services provider’s stock valued at $287,000 after buying an additional 1,211 shares during the period. Finally, Raymond James Financial Services Advisors Inc. bought a new position in LegacyTexas Financial Group during the second quarter valued at about $344,000. Institutional investors own 85.84% of the company’s stock.

About LegacyTexas Financial Group

LegacyTexas Financial Group, Inc operates as the holding company for LegacyTexas Bank that provides various banking products and services in the United States. Its deposit products include interest-bearing and non-interest-bearing demand accounts, savings, money market, certificates of deposit, and individual retirement accounts.

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Analyst Recommendations for LegacyTexas Financial Group (NASDAQ:LTXB)

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