Lloyds Banking Group (NYSE:LYG) Shares Gap Up to $2.73

Lloyds Banking Group plc (NYSE:LYG)’s share price gapped up prior to trading on Monday . The stock had previously closed at $2.73, but opened at $2.81. Lloyds Banking Group shares last traded at $2.81, with a volume of 2,680,155 shares changing hands.

Analyst Ratings Changes

A number of research analysts recently weighed in on LYG shares. Berenberg Bank started coverage on Lloyds Banking Group in a report on Thursday, April 25th. They issued a “hold” rating and a $2.75 target price on the stock. Bank of America upgraded Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Thursday, March 21st. Finally, Deutsche Bank Aktiengesellschaft started coverage on Lloyds Banking Group in a report on Thursday, May 9th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $52.55.

Lloyds Banking Group Stock Performance

The stock has a 50 day simple moving average of $2.73 and a 200 day simple moving average of $2.49. The company has a market cap of $43.70 billion, a price-to-earnings ratio of 7.32, a PEG ratio of 1.16 and a beta of 1.35. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.82.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.09 EPS for the quarter. The company had revenue of $14.35 billion for the quarter. Lloyds Banking Group had a return on equity of 10.35% and a net margin of 13.41%. As a group, analysts predict that Lloyds Banking Group plc will post 0.32 EPS for the current year.

Institutional Trading of Lloyds Banking Group

A number of hedge funds and other institutional investors have recently modified their holdings of LYG. Mondrian Investment Partners LTD increased its position in shares of Lloyds Banking Group by 39.2% during the first quarter. Mondrian Investment Partners LTD now owns 89,948,537 shares of the financial services provider’s stock worth $232,967,000 after acquiring an additional 25,351,270 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Lloyds Banking Group by 149.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 29,696,591 shares of the financial services provider’s stock worth $70,975,000 after acquiring an additional 17,814,615 shares during the last quarter. Morningstar Investment Services LLC increased its position in shares of Lloyds Banking Group by 96.9% during the fourth quarter. Morningstar Investment Services LLC now owns 21,147,627 shares of the financial services provider’s stock worth $50,966,000 after acquiring an additional 10,406,673 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Lloyds Banking Group by 195.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 2,833,546 shares of the financial services provider’s stock worth $7,339,000 after acquiring an additional 1,875,688 shares during the last quarter. Finally, Natixis Advisors L.P. increased its position in shares of Lloyds Banking Group by 34.8% during the fourth quarter. Natixis Advisors L.P. now owns 7,122,268 shares of the financial services provider’s stock worth $17,021,000 after acquiring an additional 1,840,413 shares during the last quarter. 2.15% of the stock is owned by hedge funds and other institutional investors.

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.