Lloyds Banking Group (NYSE:LYG) Coverage Initiated by Analysts at Berenberg Bank

Berenberg Bank assumed coverage on shares of Lloyds Banking Group (NYSE:LYG) in a report issued on Thursday, Marketbeat reports. The firm set a “hold” rating and a $2.75 price target on the financial services provider’s stock. Berenberg Bank’s price target suggests a potential upside of 5.16% from the company’s previous close.

Separately, Bank of America upgraded Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $55.39.

Lloyds Banking Group Stock Performance

LYG stock opened at $2.62 on Thursday. The company has a 50-day simple moving average of $2.48 and a 200 day simple moving average of $2.28. The company has a market capitalization of $41.65 billion, a P/E ratio of 6.54, a PEG ratio of 1.05 and a beta of 1.32. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.81. Lloyds Banking Group has a fifty-two week low of $1.88 and a fifty-two week high of $2.72.

Lloyds Banking Group (NYSE:LYG) last released its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.11 EPS for the quarter. The company had revenue of $19.05 billion for the quarter. Lloyds Banking Group had a net margin of 17.97% and a return on equity of 11.29%. Sell-side analysts predict that Lloyds Banking Group will post 0.32 earnings per share for the current fiscal year.

Institutional Trading of Lloyds Banking Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC lifted its holdings in shares of Lloyds Banking Group by 149.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 29,696,591 shares of the financial services provider’s stock valued at $70,975,000 after purchasing an additional 17,814,615 shares during the last quarter. Mondrian Investment Partners LTD lifted its stake in Lloyds Banking Group by 8.7% during the third quarter. Mondrian Investment Partners LTD now owns 29,131,456 shares of the financial services provider’s stock valued at $62,050,000 after buying an additional 2,336,000 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Lloyds Banking Group by 5.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 22,166,362 shares of the financial services provider’s stock worth $52,978,000 after buying an additional 1,180,775 shares during the period. Morningstar Investment Services LLC increased its position in shares of Lloyds Banking Group by 96.9% in the fourth quarter. Morningstar Investment Services LLC now owns 21,147,627 shares of the financial services provider’s stock worth $50,966,000 after acquiring an additional 10,406,673 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Lloyds Banking Group by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 18,625,679 shares of the financial services provider’s stock worth $44,528,000 after acquiring an additional 439,009 shares in the last quarter. 2.15% of the stock is owned by institutional investors and hedge funds.

About Lloyds Banking Group

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