JPMorgan Chase & Co. Raises Lloyds Banking Group (NYSE:LYG) Price Target to GBX 61

Lloyds Banking Group (NYSE:LYG – Get Rating) had its target price hoisted by equities researchers at JPMorgan Chase & Co. from GBX 60 ($0.74) to GBX 61 ($0.75) in a research report issued on Thursday, The Fly reports.

Several other equities analysts have also recently weighed in on the stock. UBS Group lifted their price objective on shares of Lloyds Banking Group from GBX 58 ($0.71) to GBX 61 ($0.75) in a research report on Thursday, April 28th. Barclays cut shares of Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, April 5th. Royal Bank of Canada lifted their price objective on shares of Lloyds Banking Group from GBX 44 ($0.54) to GBX 45 ($0.55) in a research report on Thursday, April 28th. Zacks Investment Research cut shares of Lloyds Banking Group from a “hold” rating to a “sell” rating in a research report on Saturday, April 30th. Finally, Bank of America upgraded shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Wednesday, April 27th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $42.44.

LYG stock traded up $0.05 during midday trading on Thursday, reaching $2.17. The company had a trading volume of 1,472,502 shares, compared to its average volume of 16,260,706. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.71. The stock has a 50 day moving average price of $2.34 and a 200 day moving average price of $2.52. The firm has a market capitalization of $38.07 billion, a PE ratio of 5.56, a P/E/G ratio of 0.21 and a beta of 1.31. Lloyds Banking Group has a fifty-two week low of $2.01 and a fifty-two week high of $3.00.

Lloyds Banking Group (NYSE:LYG – Get Rating) last announced its earnings results on Thursday, February 24th. The financial services provider reported $0.02 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 the consensus estimate of $5.39 billion. Lloyds Banking Group had a return on equity of 11.10% and a net margin of 25.36%. Research analysts predict that Lloyds Banking Group will post 0.33 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. Continuum Advisory LLC acquired a new position in shares of Lloyds Banking Group during the first quarter valued at about $66,000. Beacon Pointe Advisors LLC grew its stake in Lloyds Banking Group by 372.1% during the first quarter. Beacon Pointe Advisors LLC now owns 73,878 shares of the financial services provider’s stock worth $178,000 after buying an additional 58,229 shares during the last quarter. Royal Bank of Canada grew its stake in Lloyds Banking Group by 15.9% during the first quarter. Royal Bank of Canada now owns 970,441 shares of the financial services provider’s stock worth $2,338,000 after buying an additional 133,413 shares during the last quarter. Evergreen Capital Management LLC grew its stake in Lloyds Banking Group by 34.5% during the first quarter. Evergreen Capital Management LLC now owns 94,429 shares of the financial services provider’s stock worth $228,000 after buying an additional 24,239 shares during the last quarter. Finally, Eqis Capital Management Inc. grew its stake in Lloyds Banking Group by 427.3% during the first quarter. Eqis Capital Management Inc. now owns 722,914 shares of the financial services provider’s stock worth $1,742,000 after buying an additional 585,816 shares during the last quarter. 1.41% of the stock is owned by hedge funds and other institutional investors.

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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