Lloyds Banking Group (LON:LLOY) Shares Pass Above 200-Day Moving Average – What’s Next?

Lloyds Banking Group plc (LON:LLOY)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 72.47 ($0.97) and traded as high as GBX 82.44 ($1.11). Lloyds Banking Group shares last traded at GBX 82.44 ($1.11), with a volume of 169,322,781 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LLOY. Royal Bank Of Canada raised Lloyds Banking Group to an “outperform” rating and set a GBX 95 ($1.28) target price for the company in a research report on Monday, August 4th. Shore Capital reissued a “hold” rating and issued a GBX 74 ($0.99) target price on shares of Lloyds Banking Group in a research report on Thursday, July 24th. JPMorgan Chase & Co. raised Lloyds Banking Group to a “neutral” rating and boosted their target price for the stock from GBX 79 ($1.06) to GBX 85 ($1.14) in a research report on Monday, August 4th. Finally, Citigroup upped their price target on shares of Lloyds Banking Group from GBX 75 ($1.01) to GBX 77 ($1.03) and gave the company a “neutral” rating in a research report on Friday, August 1st. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of GBX 77.20 ($1.04).

Lloyds Banking Group Stock Performance

The stock has a market cap of £50.45 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 1.84 and a beta of 1.23. The company’s 50-day moving average price is GBX 77.21 and its 200 day moving average price is GBX 72.47.

Lloyds Banking Group (LON:LLOY) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported GBX 3.80 ($0.05) EPS for the quarter. Lloyds Banking Group had a net margin of 16.66% and a return on equity of 11.22%. On average, sell-side analysts anticipate that Lloyds Banking Group plc will post 7.3199528 earnings per share for the current fiscal year.

Insider Activity at Lloyds Banking Group

In related news, insider William Chalmers acquired 152,181 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The stock was bought at an average cost of GBX 76 ($1.02) per share, for a total transaction of £115,657.56 ($155,349.31). Also, insider Chris Vogelzang acquired 30,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The shares were bought at an average price of GBX 80 ($1.07) per share, with a total value of £24,400 ($32,773.67). In the last ninety days, insiders purchased 421,274 shares of company stock worth $32,138,824. 0.17% of the stock is owned by company insiders.

Lloyds Banking Group Company Profile

We are the largest UK retail and commercial financial services provider with over 25 million customers and a presence in nearly every community.

The Group’s main business activities are retail and commercial banking, general insurance and long-term savings, provided through the largest branch network and digital bank in the UK, with well recognised brands including Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows.

Our shares are quoted on the London and New York stock exchanges and we are one of the largest companies in the FTSE 100 index.