Lloyds Banking Group (LON:LLOY) Reaches New 1-Year High – Here’s Why

Lloyds Banking Group plc (LON:LLOY) hit a new 52-week high on Thursday . The stock traded as high as GBX 61.77 ($0.81) and last traded at GBX 61.40 ($0.80), with a volume of 465181781 shares. The stock had previously closed at GBX 61.20 ($0.80).

Analyst Ratings Changes

LLOY has been the subject of several recent research reports. Berenberg Bank reaffirmed a “hold” rating and set a GBX 55 ($0.72) price target on shares of Lloyds Banking Group in a report on Wednesday, August 21st. JPMorgan Chase & Co. increased their price target on Lloyds Banking Group from GBX 50 ($0.65) to GBX 54 ($0.71) and gave the stock an “underweight” rating in a report on Wednesday, July 3rd. Citigroup reaffirmed a “neutral” rating on shares of Lloyds Banking Group in a report on Monday, September 2nd. Finally, Shore Capital reissued a “hold” rating on shares of Lloyds Banking Group in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of GBX 56.33 ($0.74).

Lloyds Banking Group Stock Performance

The firm’s 50-day moving average is GBX 58.51 and its 200 day moving average is GBX 56.32. The firm has a market capitalization of £38.10 billion, a PE ratio of 888.29, a price-to-earnings-growth ratio of 1.84 and a beta of 1.23.

Lloyds Banking Group Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 1st were given a GBX 1.06 ($0.01) dividend. The ex-dividend date was Thursday, August 1st. This represents a dividend yield of 1.78%. Lloyds Banking Group’s dividend payout ratio is presently 4,285.71%.

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.