Lloyds Banking Group plc (NYSE:LYG) Sees Significant Decline in Short Interest

Lloyds Banking Group plc (NYSE:LYG) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 20,770,000 shares, a decline of 15.9% from the February 28th total of 24,690,000 shares. Based on an average trading volume of 25,660,000 shares, the short-interest ratio is currently 0.8 days. Approximately 0.1% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

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

Lloyds Banking Group Trading Down 0.7 %

Shares of NYSE:LYG traded down $0.03 during midday trading on Tuesday, hitting $3.80. 33,552,042 shares of the stock were exchanged, compared to its average volume of 14,281,133. The company has a 50 day moving average price of $3.44 and a 200-day moving average price of $3.07. The stock has a market cap of $57.64 billion, a P/E ratio of 11.50 and a beta of 1.25. Lloyds Banking Group has a twelve month low of $2.42 and a twelve month high of $3.91.

Lloyds Banking Group (NYSE:LYG) last released 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 business had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $4.76 billion. Lloyds Banking Group had a return on equity of 8.46% and a net margin of 11.45%. On average, equities research analysts expect that Lloyds Banking Group will post 0.27 earnings per share for the current year.

Lloyds Banking Group Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, May 30th. Investors of record on Friday, April 11th will be given a $0.1035 dividend. This represents a yield of 4%. The ex-dividend date is Friday, April 11th. This is a positive change from Lloyds Banking Group’s previous semi-annual dividend of $0.05. Lloyds Banking Group’s dividend payout ratio is currently 60.61%.

Institutional Investors Weigh In On Lloyds Banking Group

Hedge funds have recently modified their holdings of the stock. Crux Wealth Advisors bought a new position in Lloyds Banking Group during the fourth quarter valued at about $28,000. Brentview Investment Management LLC bought a new stake in shares of Lloyds Banking Group during the fourth quarter worth $31,000. Focus Partners Wealth acquired a new position in Lloyds Banking Group in the fourth quarter valued at about $31,000. Mesirow Financial Investment Management Inc. bought a new stake in Lloyds Banking Group during the 4th quarter worth approximately $32,000. Finally, SBI Securities Co. Ltd. acquired a new position in Lloyds Banking Group during the 4th quarter worth approximately $34,000. 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.