Lloyds Banking Group (NYSE:LYG) Upgraded at StockNews.com

StockNews.com upgraded shares of Lloyds Banking Group (NYSE:LYG) from a sell rating to a hold rating in a research report report published on Tuesday.

A number of other analysts have also weighed in on the stock. Keefe, Bruyette & Woods lowered shares of Lloyds Banking Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 11th. HSBC raised Lloyds Banking Group from a “hold” rating to a “buy” rating in a research report on Tuesday, April 1st. Morgan Stanley raised Lloyds Banking Group from an “equal weight” rating to an “overweight” rating in a report on Tuesday, March 4th. Finally, Hsbc Global Res raised Lloyds Banking Group to a “strong-buy” rating in a report on Thursday, March 20th. Seven research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold”.

Lloyds Banking Group Stock Performance

Lloyds Banking Group stock opened at $3.91 on Tuesday. The business’s 50-day simple moving average is $3.74 and its two-hundred day simple moving average is $3.21. The company has a market cap of $59.16 billion, a PE ratio of 11.85 and a beta of 0.97. Lloyds Banking Group has a fifty-two week low of $2.56 and a fifty-two week high of $4.00.

Lloyds Banking Group (NYSE:LYG) last issued its earnings results on Thursday, May 1st. The financial services provider reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. Lloyds Banking Group had a return on equity of 8.46% and a net margin of 11.45%. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $4.78 billion. As a group, analysts predict that Lloyds Banking Group will post 0.27 EPS for the current fiscal year.

Lloyds Banking Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, April 11th will be given a $0.1035 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a dividend yield of 4%. This is an increase from Lloyds Banking Group’s previous semi-annual dividend of $0.05. Lloyds Banking Group’s dividend payout ratio is 57.14%.

Institutional Investors Weigh In On Lloyds Banking Group

A number of institutional investors have recently modified their holdings of LYG. May Hill Capital LLC acquired a new stake in Lloyds Banking Group in the fourth quarter valued at approximately $227,000. Charles Schwab Investment Management Inc. grew its stake in Lloyds Banking Group by 6.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,126,422 shares of the financial services provider’s stock valued at $3,064,000 after acquiring an additional 70,838 shares during the period. Park Avenue Securities LLC increased its holdings in Lloyds Banking Group by 15.9% in the 4th quarter. Park Avenue Securities LLC now owns 288,877 shares of the financial services provider’s stock worth $786,000 after acquiring an additional 39,685 shares in the last quarter. Quantbot Technologies LP lifted its holdings in Lloyds Banking Group by 389.2% during the fourth quarter. Quantbot Technologies LP now owns 133,398 shares of the financial services provider’s stock valued at $363,000 after purchasing an additional 106,128 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Lloyds Banking Group in the fourth quarter valued at about $11,226,000. 2.15% of the stock is currently owned by institutional investors and hedge funds.

Lloyds Banking Group Company Profile

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.