Lloyds Banking Group (NYSE:LYG) Shares Gap Down to $2.99

Shares of Lloyds Banking Group plc (NYSE:LYGGet Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $2.99, but opened at $2.93. Lloyds Banking Group shares last traded at $2.93, with a volume of 2,386,092 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LYG. Deutsche Bank Aktiengesellschaft began coverage on shares of Lloyds Banking Group in a research note on Thursday, May 9th. They issued a “buy” rating for the company. Bank of America upgraded shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research note on Thursday, March 21st. Berenberg Bank began coverage on shares of Lloyds Banking Group in a research note on Thursday, April 25th. They issued a “hold” rating and a $2.75 price target for the company. Finally, BNP Paribas upgraded shares of Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research note on Friday, July 5th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.25.

Read Our Latest Stock Report on LYG

Lloyds Banking Group Stock Up 0.7 %

The firm has a market cap of $46.53 billion, a PE ratio of 7.79, a P/E/G ratio of 1.27 and a beta of 1.35. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.48 and a current ratio of 1.48. The firm’s 50-day moving average price is $2.77 and its two-hundred day moving average price is $2.51.

Lloyds Banking Group (NYSE:LYGGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.09 earnings per share for the quarter. The business had revenue of $14.35 billion during the quarter. Lloyds Banking Group had a net margin of 13.41% and a return on equity of 10.35%. As a group, equities research analysts expect that Lloyds Banking Group plc will post 0.32 EPS for the current fiscal year.

Institutional Trading of Lloyds Banking Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Mondrian Investment Partners LTD raised its position in Lloyds Banking Group by 39.2% in the 1st quarter. Mondrian Investment Partners LTD now owns 89,948,537 shares of the financial services provider’s stock valued at $232,967,000 after purchasing an additional 25,351,270 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in Lloyds Banking Group by 149.9% in the 4th 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. Goldman Sachs Group Inc. raised its position in Lloyds Banking Group by 5.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 22,166,362 shares of the financial services provider’s stock valued at $52,978,000 after purchasing an additional 1,180,775 shares during the last quarter. Morningstar Investment Services LLC increased its stake in Lloyds Banking Group by 96.9% in the 4th quarter. Morningstar Investment Services LLC now owns 21,147,627 shares of the financial services provider’s stock valued at $50,966,000 after buying an additional 10,406,673 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Lloyds Banking Group by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 18,625,679 shares of the financial services provider’s stock valued at $44,528,000 after buying an additional 439,009 shares during the period. Hedge funds and other institutional investors own 2.15% of the company’s stock.

About Lloyds Banking Group

(Get Free Report)

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.

Further Reading

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