LegacyTexas Financial Group, In (NASDAQ:LTXB) has been the object of insider selling activity recently. Anthony J. Levecchio, Director disclosed the sale of 12,000 shares of (LTXB). The shares were sold on June 9th for an average price of $40.00. Levecchio now owns $2,269,200 of the stock per the Form 4 SEC filing. EVP, Community Banking Charles D. Eikenberg sold 669 shares at an average price of $35.73 on Wed the 24th. The EVP, Community Banking now owns $1,446,708 of the stock per an SEC filing yesterday.
Scott A. Almy, EVP reported the sale of 3,000 shares of (LTXB). The shares were sold on May 8th for an average price of $36.78. Almy now owns $1,725,423 of the stock per the Form 4 SEC filing.
LegacyTexas Financial Group, Inc., launched on March 10, 2010, is a bank holding company. LegacyTexas Bank (the Bank) is the Business’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. The Business’s principal business consists of attracting retail deposits from the general public and the 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. Additionally, the Warehouse Purchase Program allows mortgage banking company customers to close one- to four-family real estate loans in their own name and manage its cash flow needs until the loans are sold to investors. The Company also offers title services, as well as brokerage services for the purchase and sale of non-deposit investment and insurance products through a third-party brokerage arrangement. The Company offers both commercial and retail customers a range of products and services. As of December 31, 2016, it operated 44 banking offices in the Dallas/Fort Worth Metroplex and surrounding counties..
Here are a few additional firms who have increased or decreased their stake in (LTXB). As of quarter end Clearbridge Investments, LLC had bought a total of 645 shares growing its stake by 89.0%. The value of the investment in LTXB went from $31,000 to $55,000 a change of $24,000 since the last quarter. Goldman Sachs Group Inc trimmed its position by shedding 10,535 shares a decrease of 54.4% as of 03/31/2017. Goldman Sachs Group Inc owns 8,830 shares valued at $352,000. The total value of its holdings decreased 57.8%.
As of the end of the quarter Ranger Investment Management, L.p. had bought 112,290 shares growing its position 33.4%. The value of the investment in LegacyTexas Financial Group, In went from $14,474,000 to $17,892,000 increasing 23.6% quarter over quarter. As of the end of the quarter State Street Corp had bought a total of 162,202 shares growing its position 12.5%. The value of the investment in (LTXB) went from $55,763,000 to $58,147,000 a change of 4.3% for the reporting period.
On November 18 the company was downgraded from “Buy” to “Neutral” in a report from Compass Point. On July 21, 2016 the stock rating was changed to a “Outperform” according to a Raymond James report which is down from the previous “Strong Buy” rating.
On June 7, 2016 Compass Point added the stock to its research portfolio by announcing an initial rating of “Buy” and setting a price target of $33.00. Equity analyst FBR Capital upgraded the stock and raised the price target on May 18 boosting the price target from $24.00 to $30.00 and setting the rating at “Outperform” which had previously been “Market Perform”.
On May 18 the stock rating was upgraded to “Outperform” from “Market Perform” with a current price target of $30.00 in a report issued by FBR Capital. On April 21, 2016 the stock rating was set at “Strong Buy” according to a Stephens & Co. report which was a boost from the previous “” rating.
The company is now down by -2.74% since yesterday’s close of $40.18. Additionally the company declared a dividend for shareholders that was paid on Monday the 15th of May 2017. The dividend payment was $0.150 per share for the quarter which comes to $0.60 on an annualized basis. The dividend yield was $1.49. The ex-dividend date was Thursday the 27th of April 2017.
Shares are trading at $39.08 just a bit higher than the 50 day moving average of $36.71 and just a bit lower than the 200 day moving average of $40.03. The 50 day moving average went up by +6.46% and the 200 day average moved down $-0.95.
LegacyTexas Financial Group, In currently has a P/E ratio of 19.66 and market cap is 1.82B. In the latest earnings report the EPS was $1.99 and is expected to be $2.15 for the current year with 46,484,000 shares outstanding. Analysts expect next quarter’s EPS to be $0.60 with next year’s EPS anticipated to be $2.64.
Short traders are feeling a little more bearish on shares of the company if you put credence in the uptick in short interest. The stock experienced a rise in short interest of 14.64% as of the latest report on April 28, 2017. Short interest grew 165,887 over that period. With short interest at 1,298,664 and short average daily volume at 297,024, the short-interest ratio is 4.4 and the short interest percentage is 0.03% as of April 28.