LegacyTexas: 3Q Earnings Snapshot

October 23, 2019 GMT

PLANO, Texas (AP) _ LegacyTexas Financial Group Inc. (LTXB) on Wednesday reported third-quarter profit of $42.4 million.

The Plano, Texas-based company said it had profit of 88 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, were 89 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 82 cents per share.

The holding company for LegacyTexas Bank posted revenue of $128.7 million in the period. Its adjusted revenue was $98.7 million, missing Street forecasts. Three analysts surveyed by Zacks expected $102.7 million.

LegacyTexas shares have climbed 37% since the beginning of the year. The stock has increased 13% 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