Lloyds Banking Group (LON:LLOY) had its price target trimmed by JPMorgan Chase & Co. from GBX 70 ($0.91) to GBX 60 ($0.78) in a research note issued to investors on Friday, Borsen Zeitung reports. The firm currently has a neutral rating on the financial services provider’s stock.
LLOY has been the topic of several other reports. Davy Research upgraded shares of Lloyds Banking Group to an outperform rating in a research report on Tuesday, May 28th. Shore Capital restated a buy rating on shares of Lloyds Banking Group in a research report on Wednesday, July 31st. Berenberg Bank set a GBX 55 ($0.72) target price on shares of Lloyds Banking Group and gave the stock a neutral rating in a research report on Thursday, August 1st. Morgan Stanley restated an overweight rating on shares of Lloyds Banking Group in a research report on Friday, July 26th. Finally, Jefferies Financial Group reiterated a buy rating and issued a GBX 99 ($1.29) price target on shares of Lloyds Banking Group in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of GBX 68.06 ($0.89).
Shares of LLOY opened at GBX 49.65 ($0.65) on Friday. The firm’s 50-day moving average is GBX 54.81 and its two-hundred day moving average is GBX 59.32. Lloyds Banking Group has a twelve month low of GBX 48.16 ($0.63) and a twelve month high of GBX 66.79 ($0.87). The firm has a market capitalization of $34.91 billion and a P/E ratio of 9.37.
In related news, insider William Chalmers sold 384,733 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of GBX 53 ($0.69), for a total transaction of £203,908.49 ($266,442.56). Also, insider George Culmer sold 83,581 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of GBX 58 ($0.76), for a total transaction of £48,476.98 ($63,343.76). Insiders sold 842,868 shares of company stock worth $46,588,125 over the last quarter.
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. 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 accounts, mortgages, motor finance, unsecured consumer loans, leasing solutions, and credit cards to personal and small business customers.
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