Lloyds Banking Group plc (NYSE:LYG) Sees Significant Increase in Short Interest

Lloyds Banking Group plc (NYSE:LYG – Get Rating) was the recipient of a large growth in short interest in April. As of April 30th, there was short interest totalling 4,730,000 shares, a growth of 129.6% from the April 15th total of 2,060,000 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 13,910,000 shares, the days-to-cover ratio is currently 0.3 days.

A number of equities analysts recently weighed in on LYG shares. Royal Bank of Canada lifted their price target on Lloyds Banking Group from GBX 44 ($0.54) to GBX 45 ($0.55) in a research note on Thursday, April 28th. UBS Group lifted their target price on Lloyds Banking Group from GBX 58 ($0.72) to GBX 61 ($0.75) in a research note on Thursday, April 28th. StockNews.com began coverage on Lloyds Banking Group in a research note on Thursday, March 31st. They set a “hold” rating on the stock. JPMorgan Chase & Co. lifted their target price on Lloyds Banking Group from GBX 56 ($0.69) to GBX 60 ($0.74) in a research note on Tuesday, March 29th. Finally, Bank of America raised Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $42.19.

Shares of Lloyds Banking Group stock opened at $2.06 on Friday. The firm has a market cap of $36.14 billion, a price-to-earnings ratio of 5.28, a P/E/G ratio of 0.20 and a beta of 1.31. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.14 and a quick ratio of 1.14. Lloyds Banking Group has a 52-week low of $2.01 and a 52-week high of $3.00. The stock has a 50-day simple moving average of $2.35 and a 200-day simple moving average of $2.54.

Lloyds Banking Group (NYSE:LYG – Get Rating) last announced its quarterly earnings results on Thursday, February 24th. The financial services provider reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.04). The firm had revenue of $13.96 billion for the quarter, compared to analyst estimates of $5.39 billion. Lloyds Banking Group had a net margin of 25.36% and a return on equity of 11.10%. As a group, equities research analysts predict that Lloyds Banking Group will post 0.33 earnings per share for the current year.

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, May 31st. Investors of record on Friday, April 8th will be issued a $0.0696 dividend. This is a positive change from Lloyds Banking Group’s previous semi-annual dividend of $0.04. This represents a yield of 5.3%. The ex-dividend date is Thursday, April 7th. Lloyds Banking Group’s payout ratio is 35.90%.

A number of institutional investors and hedge funds have recently bought and sold shares of LYG. Morgan Stanley lifted its holdings in Lloyds Banking Group by 493.6% in the 2nd quarter. Morgan Stanley now owns 13,779,953 shares of the financial services provider’s stock worth $35,139,000 after purchasing an additional 11,458,529 shares during the last quarter. New York State Common Retirement Fund acquired a new stake in Lloyds Banking Group in the 3rd quarter worth approximately $295,000. Raymond James & Associates lifted its holdings in Lloyds Banking Group by 7.2% in the 3rd quarter. Raymond James & Associates now owns 340,653 shares of the financial services provider’s stock worth $835,000 after purchasing an additional 22,772 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Lloyds Banking Group by 19.8% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 335,738 shares of the financial services provider’s stock worth $823,000 after purchasing an additional 55,545 shares during the last quarter. Finally, Truist Financial Corp lifted its holdings in Lloyds Banking Group by 20.0% in the 3rd quarter. Truist Financial Corp now owns 201,672 shares of the financial services provider’s stock worth $494,000 after purchasing an additional 33,601 shares during the last quarter. 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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