Lloyds Banking Group (LYG) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Lloyds Banking Group (NYSE:LYG) from a sell rating to a hold rating in a report released on Thursday morning.

According to Zacks, “Lloyds Banking Group plc, formerly Lloyds TSB Group plc, is a United Kingdom-based financial services company, whose businesses provide a range of banking and financial services in the United Kingdom and a limited number of locations overseas. Headquartered in London, the company operates through three segments: UK Retail Banking, Insurance and Investments, and Wholesale and International Banking. The UK Retail Banking segment provides banking and financial services, mortgages, and private banking services. The Insurance and Investments segment offers life assurance, pensions and savings products, general insurance, and fund management services. The Wholesale and International Banking segment provides banking and related services for companies, small and medium-sized businesses, banks, and financial institutions; and asset finance to personal and corporate customers. “

A number of other analysts have also recently commented on the stock. JPMorgan Chase & Co. restated a buy rating on shares of Lloyds Banking Group in a report on Monday, June 4th. ValuEngine cut shares of Lloyds Banking Group from a hold rating to a sell rating in a report on Monday, July 2nd. Citigroup upgraded shares of Lloyds Banking Group from a sell rating to a neutral rating in a report on Thursday, August 2nd. Jefferies Financial Group restated a buy rating on shares of Lloyds Banking Group in a report on Tuesday, August 14th. Finally, Berenberg Bank upgraded shares of Lloyds Banking Group from a sell rating to a hold rating in a report on Tuesday, September 4th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $4.25.

Shares of Lloyds Banking Group stock opened at $3.23 on Thursday. The company has a current ratio of 1.43, a quick ratio of 1.40 and a debt-to-equity ratio of 2.22. The firm has a market cap of $58.20 billion, a price-to-earnings ratio of 5.87 and a beta of 0.85. Lloyds Banking Group has a 12-month low of $3.02 and a 12-month high of $4.21.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings data on Tuesday, July 31st. The financial services provider reported $0.16 earnings per share (EPS) for the quarter. The business had revenue of $4.32 billion for the quarter. Lloyds Banking Group had a net margin of 15.05% and a return on equity of 15.62%. analysts forecast that Lloyds Banking Group will post 0.4 earnings per share for the current year.

The firm also recently announced a Semi-Annual dividend, which will be paid on Tuesday, October 9th. Stockholders of record on Friday, August 17th will be issued a dividend of $0.056 per share. The ex-dividend date of this dividend is Thursday, August 16th. This is a boost from Lloyds Banking Group’s previous Semi-Annual dividend of $0.05. Lloyds Banking Group’s payout ratio is 20.00%.

Several hedge funds have recently made changes to their positions in LYG. Wells Fargo & Company MN boosted its stake in Lloyds Banking Group by 28.9% in the 1st quarter. Wells Fargo & Company MN now owns 8,481,982 shares of the financial services provider’s stock worth $31,552,000 after purchasing an additional 1,903,723 shares in the last quarter. Aperio Group LLC boosted its stake in Lloyds Banking Group by 13.5% in the 1st quarter. Aperio Group LLC now owns 1,711,578 shares of the financial services provider’s stock worth $6,367,000 after purchasing an additional 204,183 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Lloyds Banking Group by 18.9% in the 1st quarter. Neuberger Berman Group LLC now owns 1,901,876 shares of the financial services provider’s stock worth $7,075,000 after purchasing an additional 302,132 shares in the last quarter. US Bancorp DE boosted its stake in Lloyds Banking Group by 6.4% in the 1st quarter. US Bancorp DE now owns 866,562 shares of the financial services provider’s stock worth $3,224,000 after purchasing an additional 51,966 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its stake in Lloyds Banking Group by 13.6% in the 1st quarter. Eagle Asset Management Inc. now owns 125,184 shares of the financial services provider’s stock worth $465,000 after purchasing an additional 14,973 shares in the last quarter. Hedge funds and other institutional investors own 2.55% of the company’s stock.

About Lloyds Banking Group

Lloyds Banking Group plc provides banking and financial services under the Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows brands in the United Kingdom and internationally. The company 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 accounts, mortgages, motor finance, and unsecured consumer lending products to personal and small business customers.

Read More: Diversification in Investing

Get a free copy of the Zacks research report on Lloyds Banking Group (LYG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Lloyds Banking Group (NYSE:LYG)

Receive News & Ratings for Lloyds Banking Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lloyds Banking Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply