Ranger Investment Management L.P. Decreases Position in LegacyTexas Financial Group Inc (LTXB)
Ranger Investment Management L.P. decreased its position in shares of LegacyTexas Financial Group Inc (NASDAQ:LTXB) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 653,570 shares of the financial services provider’s stock after selling 31,405 shares during the period. LegacyTexas Financial Group comprises 2.0% of Ranger Investment Management L.P.’s investment portfolio, making the stock its 19th biggest position. Ranger Investment Management L.P.’s holdings in LegacyTexas Financial Group were worth $27,587,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Zions Bancorporation purchased a new stake in LegacyTexas Financial Group during the 3rd quarter worth about $119,000. Janney Montgomery Scott LLC purchased a new stake in LegacyTexas Financial Group during the 3rd quarter worth about $203,000. Leucadia National Corp purchased a new stake in LegacyTexas Financial Group during the 4th quarter worth about $205,000. Raymond James Financial Services Advisors Inc. purchased a new stake in LegacyTexas Financial Group during the 4th quarter worth about $205,000. Finally, Aperio Group LLC purchased a new stake in LegacyTexas Financial Group during the 4th quarter worth about $260,000. 84.10% of the stock is currently owned by hedge funds and other institutional investors.
LTXB has been the topic of several recent research reports. Zacks Investment Research upgraded LegacyTexas Financial Group from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Wednesday, December 27th. SunTrust Banks restated a “buy” rating and set a $47.00 price target on shares of LegacyTexas Financial Group in a report on Wednesday, November 29th. Sandler O’Neill restated a “buy” rating and set a $50.00 price target on shares of LegacyTexas Financial Group in a report on Thursday, January 25th. DA Davidson upped their price target on LegacyTexas Financial Group to $53.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Stephens restated a “hold” rating and set a $46.00 price target on shares of LegacyTexas Financial Group in a report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $47.79.
LegacyTexas Financial Group (NASDAQ:LTXB) last released its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). LegacyTexas Financial Group had a net margin of 21.80% and a return on equity of 10.94%. The business had revenue of $87.10 million during the quarter, compared to analysts’ expectations of $91.99 million. During the same quarter in the previous year, the company posted $0.55 EPS. The company’s revenue was up .9% compared to the same quarter last year. sell-side analysts forecast that LegacyTexas Financial Group Inc will post 3.15 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Monday, February 5th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.49%. LegacyTexas Financial Group’s payout ratio is currently 33.86%.
In other news, EVP Charles D. Eikenberg sold 10,000 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $44.01, for a total value of $440,100.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Charles D. Eikenberg sold 5,000 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $44.18, for a total value of $220,900.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,000 shares of company stock worth $1,100,500. Company insiders own 3.10% of the company’s stock.
LegacyTexas Financial Group Company 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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