Lloyds Banking Group (NYSE:LYG) Earns Hold Rating from Analysts at Berenberg Bank

Berenberg Bank assumed coverage on shares of Lloyds Banking Group (NYSE:LYG) in a research note published on Thursday, MarketBeat Ratings reports. The firm issued a hold rating and a $2.75 price target on the financial services provider’s stock.

Separately, Bank of America raised Lloyds Banking Group from a neutral rating to a buy rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $55.39.

Lloyds Banking Group Trading Up 3.6 %

Lloyds Banking Group stock opened at $2.61 on Thursday. Lloyds Banking Group has a 52-week low of $1.88 and a 52-week high of $2.72. The company has a market cap of $41.57 billion, a P/E ratio of 6.87, a P/E/G ratio of 1.10 and a beta of 1.32. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.82. The business has a 50-day simple moving average of $2.48 and a two-hundred day simple moving average of $2.28.

Lloyds Banking Group (NYSE:LYG) last announced its earnings results on Thursday, February 22nd. The financial services provider reported $0.11 earnings per share (EPS) for the quarter. Lloyds Banking Group had a net margin of 13.41% and a return on equity of 10.35%. The company had revenue of $19.05 billion during the quarter. Analysts predict that Lloyds Banking Group will post 0.32 EPS for the current year.

Lloyds Banking Group Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, May 31st. Investors of record on Friday, April 12th will be paid a dividend of $0.046 per share. This represents a dividend yield of 5.9%. The ex-dividend date is Thursday, April 11th. Lloyds Banking Group’s dividend payout ratio (DPR) is 47.37%.

Institutional Investors Weigh In On Lloyds Banking Group

A number of institutional investors have recently bought and sold shares of LYG. Barclays PLC grew its position in shares of Lloyds Banking Group by 754.5% during the second quarter. Barclays PLC now owns 17,517 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 15,467 shares in the last quarter. DAVENPORT & Co LLC bought a new stake in shares of Lloyds Banking Group during the third quarter valued at approximately $43,000. Sterling Financial Group Inc. purchased a new position in shares of Lloyds Banking Group in the third quarter worth $28,000. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Lloyds Banking Group by 12.9% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 131,062 shares of the financial services provider’s stock worth $279,000 after acquiring an additional 14,945 shares during the last quarter. Finally, Ballentine Partners LLC grew its stake in Lloyds Banking Group by 41.1% during the third quarter. Ballentine Partners LLC now owns 78,666 shares of the financial services provider’s stock valued at $168,000 after acquiring an additional 22,911 shares in the last quarter. Hedge funds and other 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.