Lloyds Banking Group (NYSE:LYG) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Lloyds Banking Group PLC (NYSE:LYG) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $5.60 and traded as high as $6.08. Lloyds Banking Group shares last traded at $6.05, with a volume of 15,102,704 shares changing hands.

Wall Street Analyst Weigh In

LYG has been the subject of a number of analyst reports. UBS Group raised Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Thursday, April 30th. Keefe, Bruyette & Woods cut shares of Lloyds Banking Group from a “moderate buy” rating to a “hold” rating in a research report on Friday, July 17th. Morgan Stanley reissued an “overweight” rating on shares of Lloyds Banking Group in a research note on Tuesday, June 30th. Berenberg Bank assumed coverage on shares of Lloyds Banking Group in a research note on Wednesday, June 24th. They issued a “hold” rating on the stock. Finally, Citigroup reissued a “buy” rating on shares of Lloyds Banking Group in a research report on Thursday, July 16th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Lloyds Banking Group Price Performance

The company has a current ratio of 1.52, a quick ratio of 0.56 and a debt-to-equity ratio of 2.12. The firm has a market capitalization of $88.09 billion, a P/E ratio of 14.09, a P/E/G ratio of 0.61 and a beta of 0.87. The company has a 50 day moving average of $5.99 and a 200-day moving average of $5.60.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). The business had revenue of $6.57 billion during the quarter, compared to analyst estimates of $6.86 billion. Lloyds Banking Group had a return on equity of 10.94% and a net margin of 24.97%. On average, sell-side analysts predict that Lloyds Banking Group PLC will post 0.55 EPS for the current year.

Lloyds Banking Group Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, September 25th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.084 per share. The ex-dividend date is Monday, August 10th. This represents a dividend yield of 273.0%. Lloyds Banking Group’s dividend payout ratio is 37.21%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Tucker Asset Management LLC acquired a new position in Lloyds Banking Group in the fourth quarter valued at approximately $27,000. Cornerstone Planning Group LLC grew its stake in shares of Lloyds Banking Group by 131.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 5,137 shares of the financial services provider’s stock valued at $27,000 after buying an additional 2,915 shares during the period. Harbour Investments Inc. grew its holdings in shares of Lloyds Banking Group by 47.3% during the fourth quarter. Harbour Investments Inc. now owns 6,386 shares of the financial services provider’s stock valued at $34,000 after buying an additional 2,051 shares during the last quarter. Manchester Capital Management LLC grew its holdings in Lloyds Banking Group by 1,216.6% during the fourth quarter. Manchester Capital Management LLC now owns 8,163 shares of the financial services provider’s stock worth $43,000 after buying an additional 7,543 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in Lloyds Banking Group by 149.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 9,523 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 5,707 shares during the last quarter. Institutional investors own 2.15% of the company’s stock.

About Lloyds Banking Group

Lloyds Banking Group plc is a UK-based banking and financial services company that provides a broad range of retail, commercial and insurance products. Its principal consumer-facing brands include Lloyds Bank, Halifax and Bank of Scotland, through which it offers current accounts, savings, mortgages, credit cards and personal loans. The group also delivers services to small and medium-sized enterprises (SMEs) and larger corporate clients, supplying business accounts, lending, payments and cash-management solutions.

In addition to core banking, Lloyds operates a significant wealth and insurance arm under the Scottish Widows brand, offering life insurance, pensions, investment and retirement planning products.