Raymond James Downgrades LegacyTexas Financial Group Inc to Outperform

Brokerage firm Raymond James Downgrades its rating on LegacyTexas Financial Group Inc(NASDAQ:LTXB). The shares have been rated Outperform. Previously, the analysts had a Strong Buy rating on the shares. The rating by Raymond James was issued on Jul 21, 2016.

In a different note, Compass Point said it Initiates Coverage on LegacyTexas Financial Group Inc, according to a research note issued on Jun 7, 2016. The shares have been rated ‘Buy’ by the firm. On May 18, 2016, FBR Capital said it Upgrades its rating on LegacyTexas Financial Group Inc. In the research note, the firm Raises the price-target to $26.00 per share. The shares have been rated ‘Outperform’ by the firm.

LegacyTexas Financial Group Inc (LTXB) made into the market gainers list on Wednesdays trading session with the shares advancing 0.07% or 0.02 points. Due to strong positive momentum, the stock ended at $28.7, which is also near the day’s high of $29.43. The stock began the session at $29.43 and the volume stood at 6,94,271 shares. The 52-week high of the shares is $32.5 and the 52 week low is $16.79. The company has a current market capitalization of $1,367 M and it has 4,76,45,826 shares in outstanding.

LegacyTexas Financial Group Inc(LTXB) last announced its earnings results on Apr 19, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $65.35M. Analysts had an estimated revenue of $67.87M. Earnings per share were $0.43. Analysts had estimated an EPS of $0.40.

Several Insider Transactions has been reported to the SEC. On Jul 20, 2016, Scott A Almy (EVP, Chief Operating Officer) sold 669 shares at $29.20 per share price.Also, On May 26, 2016, George A. Fisk (director) sold 3,000 shares at $26.39 per share price.On May 2, 2016, Greg Wilkinson (director) purchased 1,000 shares at $24.73 per share price, according to the Form-4 filing with the securities and exchange commission.

LegacyTexas Financial Group Inc. formerly ViewPoint Financial Group Inc. is a stock holding company for its wholly owned subsidiary LegacyTexas Bank. The Company’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 owner-occupied one- to four-family residences and consumer loans. The Warehouse Purchase Program allows mortgage banking company customers to close one- to four-family real estate loans in the own name and manage its cash flow needs until the loans are sold to investors. It offers brokerage services for the purchase and sale of non-deposit investment and insurance products through a third-party brokerage arrangement.

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