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LegacyTexas: 4Q Earnings Snapshot

January 22, 2019

PLANO, Texas (AP) _ LegacyTexas Financial Group Inc. (LTXB) on Tuesday reported fourth-quarter net income of $57.8 million.

The Plano, Texas-based company said it had net income of $1.21 per share. Earnings, adjusted for pretax gains, were 89 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.

The holding company for LegacyTexas Bank posted revenue of $119.4 million in the period. Its adjusted revenue was $96.6 million, which also beat Street forecasts. Four analysts surveyed by Zacks expected $96.4 million.

For the year, the company reported profit of $153.7 million, or $3.23 per share. Revenue was reported as $381.7 million.

LegacyTexas shares have risen 19 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $38.19, a decline of 15 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LTXB at https://www.zacks.com/ap/LTXB