Lloyds Banking Group (NYSE:LYG) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Lloyds Banking Group (NYSE:LYG) from a strong-buy rating to a hold rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on LYG. The Goldman Sachs Group upgraded shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Tuesday, August 5th. JPMorgan Chase & Co. upgraded Lloyds Banking Group from an “underweight” rating to a “neutral” rating in a research note on Friday, August 1st. Royal Bank Of Canada raised Lloyds Banking Group from a “sector perform” rating to an “outperform” rating in a report on Monday, August 4th. Keefe, Bruyette & Woods upgraded Lloyds Banking Group from a “hold” rating to a “moderate buy” rating in a report on Thursday, July 17th. Finally, Wall Street Zen upgraded Lloyds Banking Group from a “hold” rating to a “buy” rating in a research note on Sunday, September 7th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Lloyds Banking Group Stock Performance

Shares of LYG opened at $4.47 on Tuesday. Lloyds Banking Group has a 1 year low of $2.56 and a 1 year high of $4.63. The stock has a market capitalization of $66.53 billion, a PE ratio of 11.16, a PEG ratio of 0.65 and a beta of 1.05. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.53 and a current ratio of 1.44. The stock has a 50-day simple moving average of $4.42 and a 200-day simple moving average of $4.11.

Lloyds Banking Group (NYSE:LYG) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. Lloyds Banking Group had a net margin of 17.51% and a return on equity of 9.28%. The firm had revenue of $6.13 billion for the quarter, compared to analyst estimates of $4.86 billion. On average, analysts predict that Lloyds Banking Group will post 0.27 earnings per share for the current fiscal year.

Lloyds Banking Group Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, September 19th. Stockholders of record on Monday, August 4th were issued a $0.0655 dividend. This represents a dividend yield of 370.0%. The ex-dividend date of this dividend was Monday, August 4th. Lloyds Banking Group’s payout ratio is presently 32.50%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LYG. Valeo Financial Advisors LLC lifted its stake in Lloyds Banking Group by 5.9% in the second quarter. Valeo Financial Advisors LLC now owns 60,214 shares of the financial services provider’s stock valued at $256,000 after buying an additional 3,342 shares during the last quarter. Osaic Holdings Inc. increased its holdings in shares of Lloyds Banking Group by 34.2% in the 2nd quarter. Osaic Holdings Inc. now owns 172,709 shares of the financial services provider’s stock valued at $717,000 after acquiring an additional 44,047 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in Lloyds Banking Group in the 2nd quarter valued at $72,000. Asset Dedication LLC acquired a new stake in Lloyds Banking Group during the 2nd quarter worth $236,000. Finally, L1 Capital Pty Ltd purchased a new position in Lloyds Banking Group during the 2nd quarter worth $548,574,000. Institutional investors and hedge funds own 2.15% of the company’s stock.

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.