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LTXB - LegacyTexas Financial Inc News Story

$42.54 -1.6  -3.6%

Last Trade - 31/10/19

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
    ** 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;))
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