First Citizens Bank & Trust Co. Reduces Position in LegacyTexas Financial Group, Inc. (NASDAQ:LTXB)

First Citizens Bank & Trust Co. cut its position in LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) by 18.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,299 shares of the financial services provider’s stock after selling 1,218 shares during the period. First Citizens Bank & Trust Co.’s holdings in LegacyTexas Financial Group were worth $202,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. increased its position in LegacyTexas Financial Group by 239.2% in the first quarter. Advisors Asset Management Inc. now owns 11,747 shares of the financial services provider’s stock worth $469,000 after buying an additional 8,284 shares during the period. AQR Capital Management LLC increased its position in LegacyTexas Financial Group by 67.7% in the first quarter. AQR Capital Management LLC now owns 109,373 shares of the financial services provider’s stock worth $4,364,000 after buying an additional 44,149 shares during the period. Louisiana State Employees Retirement System increased its position in LegacyTexas Financial Group by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the financial services provider’s stock worth $678,000 after buying an additional 300 shares during the period. Bank of America Corp DE increased its position in LegacyTexas Financial Group by 75.1% in the first quarter. Bank of America Corp DE now owns 242,652 shares of the financial services provider’s stock worth $9,681,000 after buying an additional 104,050 shares during the period. Finally, Bank of New York Mellon Corp increased its position in LegacyTexas Financial Group by 3.9% in the first quarter. Bank of New York Mellon Corp now owns 594,836 shares of the financial services provider’s stock worth $23,734,000 after buying an additional 22,581 shares during the period. 82.58% of the stock is owned by institutional investors.

LegacyTexas Financial Group, Inc. (LTXB) opened at 35.85 on Friday. LegacyTexas Financial Group, Inc. has a one year low of $29.46 and a one year high of $44.94. The stock’s 50 day moving average price is $38.10 and its 200 day moving average price is $38.73. The company has a market capitalization of $1.67 billion, a P/E ratio of 17.08 and a beta of 1.14.

LegacyTexas Financial Group (NASDAQ:LTXB) last issued its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. The firm had revenue of $88.05 million during the quarter, compared to analysts’ expectations of $87.93 million. LegacyTexas Financial Group had a return on equity of 10.94% and a net margin of 25.44%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 EPS. Equities analysts anticipate that LegacyTexas Financial Group, Inc. will post $2.20 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Thursday, July 27th. LegacyTexas Financial Group’s dividend payout ratio (DPR) is currently 28.71%.

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A number of equities analysts have issued reports on LTXB shares. BidaskClub upgraded LegacyTexas Financial Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Zacks Investment Research upgraded LegacyTexas Financial Group from a “sell” rating to a “hold” rating in a report on Friday, July 21st. Stephens reiterated a “hold” rating and issued a $42.00 price objective on shares of LegacyTexas Financial Group in a report on Wednesday, July 19th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $42.00 price target (down from $47.00) on shares of LegacyTexas Financial Group in a report on Saturday, April 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $44.20.

In related news, Director Anthony J. Levecchio sold 12,000 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $40.00, for a total transaction of $480,000.00. Following the completion of the sale, the director now directly owns 56,730 shares in the company, valued at approximately $2,269,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 13,321 shares of company stock valued at $528,758 over the last 90 days. 3.30% of the stock is currently owned by company insiders.

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.

Institutional Ownership by Quarter for LegacyTexas Financial Group (NASDAQ:LTXB)

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