Lloyds Banking Group plc (NYSE:LYG) Receives Average Recommendation of “Moderate Buy” from Analysts

Lloyds Banking Group plc (NYSE:LYG) has earned an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $49.38.

A number of brokerages recently commented on LYG. Citigroup downgraded Lloyds Banking Group from a “buy” rating to a “neutral” rating in a research report on Monday, August 5th. Royal Bank of Canada lowered shares of Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Lloyds Banking Group in a research note on Thursday, May 9th. They set a “buy” rating on the stock. BNP Paribas upgraded shares of Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a report on Friday, July 5th. Finally, UBS Group reiterated a “neutral” rating on shares of Lloyds Banking Group in a report on Tuesday, July 30th.

Lloyds Banking Group Price Performance

Lloyds Banking Group stock opened at $2.96 on Wednesday. The company has a fifty day simple moving average of $2.96 and a 200-day simple moving average of $2.73. The company has a quick ratio of 1.48, a current ratio of 1.45 and a debt-to-equity ratio of 1.89. The firm has a market capitalization of $46.26 billion, a price-to-earnings ratio of 7.79 and a beta of 1.35. Lloyds Banking Group has a 52-week low of $1.88 and a 52-week high of $3.14.

Lloyds Banking Group (NYSE:LYG) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.09 EPS for the quarter. The company had revenue of $9.55 billion during the quarter. Lloyds Banking Group had a net margin of 12.40% and a return on equity of 10.34%. On average, equities analysts anticipate that Lloyds Banking Group will post 0.32 EPS for the current fiscal year.

Lloyds Banking Group Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, September 20th. Investors of record on Monday, August 5th will be issued a $0.0546 dividend. This represents a yield of 4.4%. The ex-dividend date of this dividend is Monday, August 5th. This is an increase from Lloyds Banking Group’s previous semi-annual dividend of $0.05. Lloyds Banking Group’s dividend payout ratio (DPR) is 26.32%.

Institutional Investors Weigh In On Lloyds Banking Group

Several institutional investors and hedge funds have recently modified their holdings of the company. TCG Advisory Services LLC acquired a new position in Lloyds Banking Group in the 4th quarter valued at about $25,000. Atria Wealth Solutions Inc. purchased a new stake in Lloyds Banking Group during the 4th quarter worth approximately $26,000. D Orazio & Associates Inc. acquired a new stake in Lloyds Banking Group during the 4th quarter worth approximately $26,000. Headlands Technologies LLC purchased a new position in Lloyds Banking Group in the 4th quarter valued at approximately $27,000. Finally, Choreo LLC purchased a new position in Lloyds Banking Group in the 4th quarter valued at approximately $27,000. Hedge funds and other institutional investors own 2.15% of the company’s stock.

About Lloyds Banking Group

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom and internationally. It operates in three segments: Retail; Commercial Banking; and Insurance, Pensions and Investments. The Retail segment offers a range of financial service products, including current accounts, savings, mortgages, motor finance, unsecured loans, leasing solutions, and credit cards to personal customers.