Is Buying LegacyTexas Financial Group, Inc. (LTXB) Here a Winning Strategy? The Stock Formed Multiple Top

July 27, 2018 - By Billy Entrekin

The stock of LegacyTexas Financial Group, Inc. (LTXB) shows a multiple tops pattern with $47.17 target or 6.00 % above today’s $44.50 share price. The 6 months chart pattern indicates low risk for the $1.99 billion company. It was reported on Jul, 27 by Finviz.com. If the $47.17 price target is reached, the company will be worth $119.10M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 0.50% or $0.22 during the last trading session, reaching $44.5. About 318,860 shares traded or 4.99% up from the average. LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) has risen 18.91% since July 27, 2017 and is uptrending. It has outperformed by 6.34% the S&P500.

Analysts await LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) to report earnings on October, 23. They expect $0.84 earnings per share, up 37.70 % or $0.23 from last year’s $0.61 per share. LTXB’s profit will be $37.47 million for 13.24 P/E if the $0.84 EPS becomes a reality. After $0.59 actual earnings per share reported by LegacyTexas Financial Group, Inc. for the previous quarter, Wall Street now forecasts 42.37 % EPS growth.

LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) Ratings Coverage

Among 8 analysts covering LegacyTexas Financial (NASDAQ:LTXB), 5 have Buy rating, 0 Sell and 3 Hold. Therefore 63% are positive. LegacyTexas Financial has $53.0 highest and $4100 lowest target. $45.50’s average target is 2.25% above currents $44.5 stock price. LegacyTexas Financial had 11 analyst reports since March 13, 2018 according to SRatingsIntel. The stock of LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) earned “Buy” rating by Piper Jaffray on Wednesday, April 18. The stock has “Outperform” rating by Raymond James on Wednesday, July 18. The stock of LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) has “Buy” rating given on Thursday, April 19 by Sandler O’Neill. The rating was maintained by SunTrust with “Buy” on Wednesday, April 18. The firm has “Buy” rating given on Tuesday, March 13 by Piper Jaffray. The company was downgraded on Wednesday, April 18 by Raymond James. The firm has “Hold” rating by Hovde Group given on Thursday, April 19. Stephens upgraded LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) on Thursday, July 19 to “Overweight” rating. On Thursday, April 19 the stock rating was downgraded by Wood to “Market Perform”. The rating was maintained by Stephens on Wednesday, April 18 with “Hold”.

More notable recent LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) news were published by: Benzinga.com which released: “Mid-Afternoon Market Update: Dow Rises 75 Points; Precipio Shares Spike Higher” on July 18, 2018, also Streetinsider.com with their article: “LegacyTexas Financial Group (LTXB) Declares $0.16 Quarterly Dividend; 1.6% Yield” published on July 17, 2018, Seekingalpha.com published: “LegacyTexas Financial Group, Inc. (LTXB) CEO Kevin Hanigan on Q2 2018 Results – Earnings Call Transcript” on July 18, 2018. More interesting news about LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) were released by: Benzinga.com and their article: “LegacyTexas Financial Earnings Preview” published on July 17, 2018 as well as Seekingalpha.com‘s news article titled: “Banks lead group of expected dividend hikers next week” with publication date: July 13, 2018.

LegacyTexas Financial Group, Inc. operates as the holding firm for LegacyTexas Bank that provides various banking services and products in the United States. The company has market cap of $1.99 billion. The Company’s deposit products include interest-bearing and non-interest-bearing demand, savings, money market, certificates of deposit, and individual retirement accounts. It has a 21.71 P/E ratio. The companyÂ’s lending products comprise commercial and consumer real estate loans; commercial and industrial loans; construction and land loans; and consumer loans, including new and used automobile loans, recreational vehicle loans, and loans secured by savings deposits, as well as permanent loans secured by first and second mortgages on one-to-four family residences.

LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) Ratings Chart

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