Lloyds Banking Group (NYSE:LYG) Price Target Raised to GBX 64 at Deutsche Bank Aktiengesellschaft

Lloyds Banking Group (NYSE:LYG – Get Rating) had its price target lifted by Deutsche Bank Aktiengesellschaft from GBX 61 ($0.75) to GBX 64 ($0.78) in a research note released on Friday, The Fly reports.

Other equities analysts have also recently issued reports about the company. Barclays cut Lloyds Banking Group from an overweight rating to an equal weight rating in a report on Tuesday, April 5th. StockNews.com initiated coverage on Lloyds Banking Group in a report on Thursday, March 31st. They issued a hold rating on the stock. Royal Bank of Canada lifted their target price on Lloyds Banking Group from GBX 42 ($0.51) to GBX 45 ($0.55) in a report on Thursday, July 28th. Credit Suisse Group lifted their price target on Lloyds Banking Group from GBX 71 ($0.87) to GBX 72 ($0.88) in a report on Thursday, July 28th. Finally, JPMorgan Chase & Co. lifted their price target on Lloyds Banking Group from GBX 60 ($0.74) to GBX 61 ($0.75) in a report on Thursday, May 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $59.00.

Lloyds Banking Group Stock Performance

Shares of NYSE LYG opened at $2.22 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.70. The stock has a market capitalization of $38.32 billion, a price-to-earnings ratio of 6.94, a PEG ratio of 0.20 and a beta of 1.28. The stock’s fifty day simple moving average is $2.11 and its 200 day simple moving average is $2.35. Lloyds Banking Group has a 52-week low of $1.90 and a 52-week high of $3.00.

Lloyds Banking Group Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 22nd. Investors of record on Monday, August 8th will be given a dividend of $0.0385 per share. The ex-dividend date is Friday, August 5th. This represents a yield of 4.7%. Lloyds Banking Group’s payout ratio is 40.63%.

Institutional Trading of Lloyds Banking Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. National Asset Management Inc. acquired a new stake in shares of Lloyds Banking Group in the first quarter worth about $25,000. Summit Trail Advisors LLC acquired a new position in shares of Lloyds Banking Group during the 4th quarter worth about $26,000. Straight Path Wealth Management acquired a new position in shares of Lloyds Banking Group during the 2nd quarter worth about $26,000. Radnor Capital Management LLC acquired a new position in shares of Lloyds Banking Group during the 1st quarter worth about $27,000. Finally, Dynamic Advisor Solutions LLC acquired a new position in shares of Lloyds Banking Group during the 2nd quarter worth about $27,000. Institutional investors and hedge funds own 1.41% of the company’s stock.

Lloyds Banking Group Company Profile

(Get Rating)

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom. 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, mortgages, motor finance, unsecured loans, leasing solutions, and credit cards to personal and small business customers.

Further Reading

• Get a free copy of the StockNews.com research report on Lloyds Banking Group (LYG)
• MarketBeat Podcast: Find Investing Opportunities For The Rest of 2022
• The Colgate-Palmolive Growth Outlook Brightens 
• Deep Value High Yield Newell Brands Is Ready To Bottom 
• These Stocks Outperformed Last Time There Was A Recession
• Does Rivian’s Stock Still Have A Future?

Want More Great Investing Ideas?