Lloyds Banking Group (NYSE:LYG) Price Target Increased to GBX 45 by Analysts at Royal Bank of Canada

Lloyds Banking Group (NYSE:LYG – Get Rating) had its price objective hoisted by Royal Bank of Canada from GBX 44 ($0.56) to GBX 45 ($0.57) in a research report report published on Thursday morning, The Fly reports.

A number of other research firms also recently commented on LYG. JPMorgan Chase & Co. boosted their target price on shares of Lloyds Banking Group from GBX 56 ($0.71) to GBX 60 ($0.76) in a report on Tuesday, March 29th. UBS Group boosted their price target on shares of Lloyds Banking Group from GBX 58 ($0.74) to GBX 61 ($0.78) in a report on Thursday. Bank of America upgraded shares of Lloyds Banking Group from a neutral rating to a buy rating in a report on Wednesday. StockNews.com started coverage on shares of Lloyds Banking Group in a report on Thursday, March 31st. They set a hold rating on the stock. Finally, Barclays downgraded shares of Lloyds Banking Group from an overweight rating to an equal weight rating in a research report on Tuesday, April 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus price target of $42.19.

NYSE LYG opened at $2.27 on Thursday. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.46 and a quick ratio of 1.46. The company’s 50 day simple moving average is $2.43 and its 200 day simple moving average is $2.57. Lloyds Banking Group has a 12 month low of $2.09 and a 12 month high of $3.00. The company has a market capitalization of $39.83 billion, a P/E ratio of 5.63, a PEG ratio of 0.23 and a beta of 1.37.

Lloyds Banking Group (NYSE:LYG – Get Rating) last released its earnings results on Thursday, February 24th. The financial services provider reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). Lloyds Banking Group had a return on equity of 11.59% and a net margin of 26.61%. The business had revenue of $13.96 billion during the quarter, compared to the consensus estimate of $5.39 billion. On average, analysts anticipate that Lloyds Banking Group will post 0.33 earnings per share for the current year.

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

Large investors have recently added to or reduced their stakes in the stock. Summit Trail Advisors LLC acquired a new position in Lloyds Banking Group during the 4th quarter valued at $26,000. Brighton Jones LLC acquired a new position in Lloyds Banking Group during the 3rd quarter valued at $27,000. Kestra Private Wealth Services LLC acquired a new position in shares of Lloyds Banking Group in the 4th quarter valued at $27,000. Radnor Capital Management LLC acquired a new position in shares of Lloyds Banking Group in the 1st quarter valued at $27,000. Finally, Dorsey & Whitney Trust CO LLC acquired a new position in shares of Lloyds Banking Group in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 1.41% of the company’s stock.

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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