LegacyTexas Financial Inc logo

LTXB - LegacyTexas Financial Inc News Story

$42.54 -1.6  -3.6%

Last Trade - 31/10/19

Sector
Financials
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £296.3m
Position in Universe th / 6369

BUZZ-LegacyTexas Financial: Stock slides on Raymond James downgrade

Wed 18th April, 2018 3:10pm
** Shares of LegacyTexas Financial Group Inc  LTXB.O 
plunged >17 pct early Weds before paring losses after Raymond
James downgrade to "market perform" from "outperform"
    ** Stock currently down just 4.0 pct at $40.76, though still
the session's top percentage loser in the Nasdaq Bank index
 .IXBK 
    ** Lead analyst Michael Rose cites the bank's disappointing
Q1 earnings stemming from "credit-related issues that have
hindered LTBX’s performance in recent quarters"
    ** Believes co's ongoing issues related to its E&P-based
energy exposure (Q1 saw large energy write-off) and its
healthcare book (reported ~28 pct reserve on remaining $38.8 mln
portfolio) could persist for several qtrs
    ** On Apr 17, LTXB reported Q1 adj EPS of 52 cents, widely
missing the 71 cents/share analysts expected, per Thomson
Reuters data  urn:newsml:reuters.com:*:nPn3DBy5Sa
    ** Of 9 analysts covering LTXB, 5 rate co "buy" or stronger,
remaining 4 recommend "hold"; median PT $50
    ** Rose garners 5 of 5 stars from Thomson Reuters StarMine
for past LTXB recommendation performance
    ** LTXB stock has dropped nearly 5 pct so far in 2018, in
contrast with the IXBK's ~2 pct YTD advance

 (Reporting by Stephen Culp)
 ((stephen.culp@thomsonreuters.com; 646-223-6076;))
© Stockopedia 2020, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.