Brokerages Set Lloyds Banking Group plc (NYSE:LYG) Price Target at $40.25

Lloyds Banking Group plc (NYSE:LYGGet Rating) has earned a consensus rating of “Buy” from the eighteen brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $40.25.

LYG has been the subject of several recent analyst reports. Bank of America upgraded Lloyds Banking Group from an “underperform” rating to a “neutral” rating in a report on Monday, March 7th. Zacks Investment Research upgraded Lloyds Banking Group from a “hold” rating to a “buy” rating and set a $2.75 price target for the company in a report on Wednesday, March 2nd. StockNews.com initiated coverage on Lloyds Banking Group in a report on Thursday, March 31st. They issued a “hold” rating for the company. Barclays cut Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a report on Tuesday, April 5th. Finally, Royal Bank of Canada cut Lloyds Banking Group from an “outperform” rating to an “underperform” rating in a report on Wednesday, March 30th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Summit Trail Advisors LLC purchased a new position in Lloyds Banking Group in the 4th quarter worth approximately $26,000. Kestra Private Wealth Services LLC purchased a new position in Lloyds Banking Group in the 4th quarter worth approximately $27,000. Vista Wealth Management Group LLC purchased a new position in Lloyds Banking Group in the 3rd quarter worth approximately $26,000. Avantax Advisory Services Inc. purchased a new position in Lloyds Banking Group in the 3rd quarter worth approximately $26,000. Finally, Brighton Jones LLC acquired a new position in shares of Lloyds Banking Group in the 3rd quarter valued at approximately $27,000. Hedge funds and other institutional investors own 1.41% of the company’s stock.

Shares of LYG stock opened at $2.32 on Friday. The firm has a 50-day moving average price of $2.51 and a 200 day moving average price of $2.59. Lloyds Banking Group has a twelve month low of $2.09 and a twelve month high of $3.00. The company has a market capitalization of $40.70 billion, a price-to-earnings ratio of 5.66, a PEG ratio of 0.22 and a beta of 1.37. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 1.59.

Lloyds Banking Group (NYSE:LYGGet Rating) last announced its earnings results on Thursday, February 24th. The financial services provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.04). Lloyds Banking Group had a net margin of 26.61% and a return on equity of 11.59%. The firm had revenue of $13.96 billion during the quarter, compared to analyst estimates of $5.39 billion. As a group, research analysts predict that Lloyds Banking Group will post 0.33 earnings per share for the current year.

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, May 31st. Stockholders of record on Friday, April 8th will be issued a dividend of $0.0696 per share. The ex-dividend date of this dividend is Thursday, April 7th. This represents a dividend yield of 5.3%. This is a boost from Lloyds Banking Group’s previous semi-annual dividend of $0.04. Lloyds Banking Group’s payout ratio is presently 34.15%.

Lloyds Banking Group Company Profile (Get Rating)

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom. It operates through three segments: Retail; Commercial Banking; and Insurance and Wealth. 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 and small business customers.

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Analyst Recommendations for Lloyds Banking Group (NYSE:LYG)

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