LegacyTexas Financial Received its Third Buy in a Row

By Ryan Adsit

After D.A. Davidson and Stephens assigned a Buy rating to LegacyTexas Financial in the last month, the company received another Buy, this time from FBR Capital. Analyst Christopher Nolan reiterated a Buy rating on LegacyTexas Financial (NASDAQ: LTXB) yesterday. The company’s shares opened today at $33.34.

According to TipRanks.com, Nolan is a 4-star analyst with an average return of 5.6% and a 61.5% success rate. Nolan covers the Financial sector, focusing on stocks such as Pennantpark Investment Corp, Atlantic Capital Bancshares, and Raymond James Financial.

Currently, the analyst consensus on LegacyTexas Financial is Strong Buy and the average price target is $47.50, representing a 42.5% upside.

In a report released yesterday, Stephens also reiterated a Buy rating on the stock.

Based on LegacyTexas Financial’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $99.67 million and quarterly net profit of $18.19 million. In comparison, last year the company earned revenue of $83.19 million and had a net profit of $21.95 million.

Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock.

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Legacy Texas Financial Group, Inc. operates as the holding company which engages in providing financial services. Its services include personal banking, commercial banking, business banking, corporate banking, commercial real estate, warehouse lending, mortgage, insurance, and title services. It also offers brokerage services for the purchase and sale of non-deposit investment and insurance products through a third party brokerage arrangement. The company was founded 1952 and is headquartered in Plano, TX.