Large Inflow of Money Detected in LegacyTexas Financial Group

LegacyTexas Financial Group (LTXB) : On Wednesday, The money flowed into the LegacyTexas Financial Group (LTXB) stock with an uptick to downtick ratio was recorded at 1.76. Transactions worth $3.05 million were done on upticks, confirming the buying interest in the stock. The outflow of money on downticks stood at $1.74 million. The total money flow into the stock was $1.32 million. The investors are using every small weakness in the stock to accumulate it, as can be seen in the $1.3 million of block transactions on upticks. The total money flow in block trades was $1.3 million. In terms of price action, LegacyTexas Financial Group (LTXB) traded down $0.07 during the session at $28.61. Compared to the previous days closing, the stock was down only by -0.24%. For the week, the stock is -3.02%, over previous weeks closing.


Also, Compass Point initiates coverage on LegacyTexas Financial Group (NASDAQ:LTXB) In a research note issued to the investors, the brokerage major announces price-target of $33 per share.The shares have been rated Buy. The rating by the firm was issued on June 7, 2016.

LegacyTexas Financial Group (NASDAQ:LTXB): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $29.43 and $28.56 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $29.43. The buying momentum continued till the end and the stock did not give up its gains. It closed at $28.70, notching a gain of 0.07% for the day. The total traded volume was 694,271 . The stock had closed at $28.68 on the previous day.

The stock has recorded a 20-day Moving Average of 6.48% and the 50-Day Moving Average is 8.15%. In a related news, The Securities and Exchange Commission has divulged that Fisk George A., director of Legacytexas Financial Group, Inc., had unloaded 3,000 shares at an average price of $26.39 in a transaction dated on May 24, 2016. The total value of the transaction was worth $79,170.

LegacyTexas Financial Group, Inc., formerly ViewPoint Financial Group Inc., is a stock holding company for its wholly owned subsidiary, LegacyTexas Bank. The Companys principal business consists of 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 owner-occupied, one- to four-family residences and consumer loans. The Warehouse Purchase Program allows mortgage banking company customers to close one- to four-family real estate loans in the own name and manage its cash flow needs until the loans are sold to investors. It offers brokerage services for the purchase and sale of non-deposit investment and insurance products through a third-party brokerage arrangement.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.