Lloyds Banking Group (LON:LLOY) Receives “Hold” Rating from Berenberg Bank

Berenberg Bank restated their hold rating on shares of Lloyds Banking Group (LON:LLOY) in a research report report published on Wednesday morning, MarketBeat reports. The brokerage currently has a GBX 55 ($0.71) price target on the financial services provider’s stock.

Several other brokerages have also commented on LLOY. Shore Capital restated a hold rating on shares of Lloyds Banking Group in a research note on Thursday, July 25th. JPMorgan Chase & Co. increased their target price on shares of Lloyds Banking Group from GBX 50 ($0.65) to GBX 54 ($0.70) and gave the stock an underweight rating in a research report on Wednesday, July 3rd. Finally, Citigroup reaffirmed a buy rating on shares of Lloyds Banking Group in a research report on Monday, July 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of GBX 56.33 ($0.73).

Lloyds Banking Group Price Performance

Shares of Lloyds Banking Group stock opened at GBX 58.26 ($0.76) on Wednesday. The firm has a market cap of £36.04 billion, a price-to-earnings ratio of 832.86, a P/E/G ratio of 2.00 and a beta of 1.26. The stock has a 50-day simple moving average of GBX 57.37 and a 200-day simple moving average of GBX 52.94. Lloyds Banking Group has a 52-week low of GBX 39.42 ($0.51) and a 52-week high of GBX 64.67 ($0.84).

Lloyds Banking Group Cuts Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 1st will be given a GBX 1.06 ($0.01) dividend. This represents a dividend yield of 1.78%. The ex-dividend date is Thursday, August 1st. Lloyds Banking Group’s dividend payout ratio is currently 4,285.71%.

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.