Lloyds Banking Group (NYSE:LYG) Stock Rating Upgraded by HSBC

HSBC upgraded shares of Lloyds Banking Group (NYSE:LYG) from a hold rating to a buy rating in a research report released on Tuesday, MarketBeat Ratings reports.

Several other equities research analysts have also weighed in on the company. Hsbc Global Res upgraded Lloyds Banking Group to a “strong-buy” rating in a research note on Thursday, March 20th. Keefe, Bruyette & Woods cut Lloyds Banking Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 11th. Finally, Morgan Stanley upgraded shares of Lloyds Banking Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, March 4th. Seven equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2.75.

Lloyds Banking Group Stock Down 4.6 %

Shares of LYG stock opened at $3.67 on Tuesday. Lloyds Banking Group has a 12 month low of $2.42 and a 12 month high of $3.91. The business’s 50 day moving average is $3.48 and its two-hundred day moving average is $3.08. The company has a market cap of $55.67 billion, a PE ratio of 11.11 and a beta of 1.25.

Lloyds Banking Group (NYSE:LYG) last posted its quarterly earnings data on Thursday, February 20th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.03). The company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $4.76 billion. Lloyds Banking Group had a return on equity of 8.46% and a net margin of 11.45%. As a group, equities analysts expect that Lloyds Banking Group will post 0.27 EPS for the current fiscal year.

Lloyds Banking Group Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, May 30th. Investors of record on Friday, April 11th will be issued a dividend of $0.1035 per share. This represents a yield of 4%. This is an increase from Lloyds Banking Group’s previous semi-annual dividend of $0.05. The ex-dividend date of this dividend is Friday, April 11th. Lloyds Banking Group’s payout ratio is presently 60.61%.

Institutional Trading of Lloyds Banking Group

Several institutional investors and hedge funds have recently bought and sold shares of LYG. Marcum Wealth LLC lifted its position in Lloyds Banking Group by 13.2% during the first quarter. Marcum Wealth LLC now owns 85,341 shares of the financial services provider’s stock worth $326,000 after acquiring an additional 9,951 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Lloyds Banking Group by 119.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 125,225 shares of the financial services provider’s stock valued at $341,000 after acquiring an additional 68,064 shares during the period. Aegis Wealth Management LLC bought a new stake in Lloyds Banking Group during the fourth quarter worth about $269,000. Forum Financial Management LP raised its position in Lloyds Banking Group by 35.6% during the fourth quarter. Forum Financial Management LP now owns 181,796 shares of the financial services provider’s stock valued at $494,000 after purchasing an additional 47,752 shares in the last quarter. Finally, Continuum Advisory LLC lifted its holdings in shares of Lloyds Banking Group by 5.0% in the fourth quarter. Continuum Advisory LLC now owns 95,882 shares of the financial services provider’s stock worth $261,000 after acquiring an additional 4,585 shares during the last quarter. Institutional investors 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.