JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Lloyds Banking Group (LON:LLOY) Stock

Lloyds Banking Group (LON:LLOY) had its price target hoisted by equities researchers at JPMorgan Chase & Co. from GBX 121 to GBX 123 in a research note issued on Tuesday, Digital Look reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 12.23% from the stock’s previous close.

LLOY has been the subject of a number of other reports. Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 124 target price on shares of Lloyds Banking Group in a research note on Friday. Berenberg Bank reissued a “hold” rating and issued a GBX 117 price objective on shares of Lloyds Banking Group in a research note on Wednesday, June 24th. Jefferies Financial Group lifted their target price on Lloyds Banking Group from GBX 125 to GBX 127 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 125 price objective on shares of Lloyds Banking Group in a report on Friday, July 31st. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of GBX 114.60.

Lloyds Banking Group Trading Up 0.2%

Shares of LLOY opened at GBX 109.60 on Tuesday. Lloyds Banking Group has a 1-year low of GBX 81.04 and a 1-year high of GBX 117.90. The firm’s 50-day moving average price is GBX 112.65 and its 200-day moving average price is GBX 104.47. The firm has a market capitalization of £63.44 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 1.84 and a beta of 0.91.

Lloyds Banking Group (LON:LLOY) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported GBX 4.80 earnings per share (EPS) for the quarter. Lloyds Banking Group had a net margin of 26.73% and a return on equity of 11.05%. On average, research analysts forecast that Lloyds Banking Group will post 7.3199528 EPS for the current fiscal year.

Insider Activity at Lloyds Banking Group

In other Lloyds Banking Group news, insider William Chalmers sold 8,445,139 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of GBX 112, for a total value of £9,458,555.68. Corporate insiders own 0.15% of the company’s stock.

About Lloyds Banking Group

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.