Lloyds Banking Group (NYSE:LYG) Upgraded at Investec

Investec upgraded shares of Lloyds Banking Group (NYSE:LYG) from a hold rating to a buy rating in a report published on Monday, The Fly reports.

A number of other research analysts have also recently issued reports on LYG. UBS Group restated a buy rating on shares of Lloyds Banking Group in a report on Friday, April 23rd. Redburn Partners upgraded shares of Lloyds Banking Group from a sell rating to a neutral rating in a report on Monday, May 17th. Credit Suisse Group reiterated an outperform rating on shares of Lloyds Banking Group in a report on Thursday, April 29th. Barclays reiterated an overweight rating on shares of Lloyds Banking Group in a report on Monday, June 7th. Finally, Keefe, Bruyette & Woods upgraded shares of Lloyds Banking Group from an underperform rating to a market perform rating in a report on Monday, March 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $2.75.

Shares of NYSE LYG opened at $2.59 on Monday. The firm has a market capitalization of $45.94 billion, a PE ratio of 21.58, a P/E/G ratio of 0.26 and a beta of 1.55. The firm’s 50 day moving average price is $2.61. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.13 and a current ratio of 1.13. Lloyds Banking Group has a 52-week low of $1.17 and a 52-week high of $2.83.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings data on Wednesday, April 28th. The financial services provider reported $0.10 earnings per share (EPS) for the quarter. The firm had revenue of $5.26 billion for the quarter. On average, analysts forecast that Lloyds Banking Group will post 0.34 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in Lloyds Banking Group by 13.0% during the fourth quarter. JPMorgan Chase & Co. now owns 42,542,277 shares of the financial services provider’s stock worth $83,383,000 after acquiring an additional 4,902,920 shares in the last quarter. Mondrian Investment Partners LTD raised its position in Lloyds Banking Group by 5.2% during the first quarter. Mondrian Investment Partners LTD now owns 25,964,774 shares of the financial services provider’s stock worth $64,652,000 after acquiring an additional 1,286,218 shares in the last quarter. Northern Trust Corp raised its position in Lloyds Banking Group by 1.3% during the first quarter. Northern Trust Corp now owns 15,445,947 shares of the financial services provider’s stock worth $35,834,000 after acquiring an additional 190,899 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Lloyds Banking Group by 11.4% during the first quarter. Goldman Sachs Group Inc. now owns 12,587,965 shares of the financial services provider’s stock worth $29,204,000 after acquiring an additional 1,289,230 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in Lloyds Banking Group by 19.8% during the first quarter. CIBC Private Wealth Group LLC now owns 12,331,967 shares of the financial services provider’s stock worth $28,611,000 after acquiring an additional 2,037,124 shares in the last quarter. Institutional investors and hedge funds own 1.45% 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 through three segments: Retail; Commercial Banking; and Insurance and Wealth. The Retail segment offers a range of financial service products, including current accounts, savings accounts, mortgages, motor finance, unsecured loans, leasing solutions, credit cards, and other financial services to personal and small business customers.

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