Lloyds Banking Group (NYSE:LYG) PT Raised to GBX 61

Lloyds Banking Group (NYSE:LYGGet Rating) had its price target hoisted by UBS Group from GBX 58 ($0.74) to GBX 61 ($0.78) in a report published on Thursday, The Fly reports.

A number of other brokerages have also recently commented on LYG. Barclays cut Lloyds Banking Group from an overweight rating to an equal weight rating in a report on Tuesday, April 5th. JPMorgan Chase & Co. increased their target price on Lloyds Banking Group from GBX 56 ($0.71) to GBX 60 ($0.76) in a report on Tuesday, March 29th. Bank of America upgraded Lloyds Banking Group from a neutral rating to a buy rating in a research report on Wednesday. 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 research report on Wednesday, March 2nd. Finally, Royal Bank of Canada lowered Lloyds Banking Group from an outperform rating to an underperform rating in a research report on Wednesday, March 30th. One equities 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 company’s stock. According to data from MarketBeat.com, Lloyds Banking Group presently has a consensus rating of Buy and a consensus price target of $42.19.

NYSE LYG opened at $2.27 on Thursday. The stock has a market capitalization of $39.83 billion, a price-to-earnings ratio of 5.63, a PEG ratio of 0.23 and a beta of 1.37. Lloyds Banking Group has a twelve month low of $2.09 and a twelve month high of $3.00. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 1.59. The stock has a 50-day moving average of $2.43 and a 200 day moving average of $2.57.

Lloyds Banking Group (NYSE:LYGGet Rating) last announced 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 net margin of 26.61% and a return on equity of 11.59%. The firm had revenue of $13.96 billion for the quarter, compared to analyst estimates of $5.39 billion. Equities analysts predict that Lloyds Banking Group will post 0.33 EPS for the current fiscal year.

The firm also recently disclosed a semi-annual dividend, which will be paid on Tuesday, May 31st. Investors of record on Friday, April 8th will be given a $0.0696 dividend. This represents a yield of 5.3%. This is a positive change from Lloyds Banking Group’s previous semi-annual dividend of $0.04. The ex-dividend date is Thursday, April 7th. Lloyds Banking Group’s dividend payout ratio is presently 34.15%.

Institutional investors have recently modified their holdings of the stock. Summit Trail Advisors LLC purchased a new position in shares of Lloyds Banking Group during the fourth quarter worth $26,000. Brighton Jones LLC purchased a new position in shares of Lloyds Banking Group during the third quarter worth $27,000. Kestra Private Wealth Services LLC purchased a new position in shares of Lloyds Banking Group during the fourth quarter worth $27,000. Radnor Capital Management LLC purchased a new position in shares of Lloyds Banking Group during the first quarter worth $27,000. Finally, Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Lloyds Banking Group in the fourth quarter valued at $29,000. Institutional investors own 1.41% of the company’s stock.

About Lloyds Banking Group (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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