Notable Price Action: Is LegacyTexas Financial Group Inc a Buy? The Stock Reaches All-Time High Today

Notable Price Action: Is LegacyTexas Financial Group Inc a Buy? The Stock Reaches All Time High Today

The stock of LegacyTexas Financial Group Inc (NASDAQ:LTXB) reached all time high today, Nov, 24 and still has $42.23 target or 7.00% above today’s $39.47 share price. This indicates more upside for the $1.91 billion company. This technical setup was reported by Barchart.com. If the $42.23 PT is reached, the company will be worth $133.70M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock decreased 0.60% or $0.24 on November 23, hitting $39.47. About 167,027 shares traded hands. LegacyTexas Financial Group Inc (NASDAQ:LTXB) has risen 61.10% since April 22, 2016 and is uptrending. It has outperformed by 55.69% the S&P500.

Analysts await LegacyTexas Financial Group Inc (NASDAQ:LTXB) to report earnings on January, 24. They expect $0.56 EPS, up 60.00% or $0.21 from last year’s $0.35 per share. LTXB’s profit will be $27.10M for 17.62 P/E if the $0.56 EPS becomes a reality. After $0.58 actual EPS reported by LegacyTexas Financial Group Inc for the previous quarter, Wall Street now forecasts -3.45% negative EPS growth.

LegacyTexas Financial Group Inc (NASDAQ:LTXB) Ratings Coverage

Out of 6 analysts covering LegacyTexas Group (NASDAQ:LTXB), 4 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. LegacyTexas Group has been the topic of 12 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Tuesday, June 7 by Compass Point. The stock has “Market Perform” rating given by Hovde Group on Thursday, July 21. Compass Point maintained it with “Buy” rating and $35 target price in Thursday, July 21 report. The rating was downgraded by Compass Point on Friday, November 18 to “Neutral”. On Thursday, April 21 the stock rating was upgraded by Stephens to “Overweight”. Raymond James downgraded the stock to “Outperform” rating in Thursday, July 21 report. The firm has “Strong Buy” rating by Raymond James given on Wednesday, April 20. The stock of LegacyTexas Financial Group Inc (NASDAQ:LTXB) earned “Outperform” rating by FBR Capital on Wednesday, May 18. The company was maintained on Thursday, July 23 by FBR Capital.

According to Zacks Investment Research, “LegacyTexas Financial Group, Inc. is a bank holding company. The company’s holdings include LegacyTexas Bank. The Bank offers commercial, small business, and consumer deposit and lending products, title and insurance services through its bank subsidiaries, LegacyTexas Title and LegacyTexas Insurance. It also offers brokerage services for the purchase and sale of non-deposit investment products. LegacyTexas Financial Group, Inc., formerly known as ViewPoint Financial Group, Inc., is based in Plano, Texas.”

More news for LegacyTexas Financial Group Inc (NASDAQ:LTXB) were recently published by: Prnewswire.com, which released: “LegacyTexas Financial Group, Inc. Announces Pricing of $50 Million of …” on September 15, 2016. Marketwatch.com‘s article titled: “Legacy Texas Financial downgraded to outperform from strong buy at Raymond James” and published on January 06, 2015 is yet another important article.

LTXB Company Profile

LegacyTexas Financial Group, Inc., incorporated on March 10, 2010, is a bank holding company. LegacyTexas Bank is its wholly owned principal operating subsidiary. The Firm is engaged in 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. The Warehouse Purchase Program allows mortgage banking firm clients 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. It offers insurance and 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.

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