Lloyds Banking Group (NYSE:LYG) Sees Large Volume Increase

Lloyds Banking Group plc (NYSE:LYGGet Rating) saw unusually-strong trading volume on Wednesday . Approximately 305,942 shares traded hands during trading, a decline of 96% from the previous session’s volume of 7,758,243 shares.The stock last traded at $2.14 and had previously closed at $2.19.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on LYG shares. Barclays raised their price objective on shares of Lloyds Banking Group from GBX 52 ($0.63) to GBX 55 ($0.66) in a research note on Friday, July 29th. JPMorgan Chase & Co. lifted their target price on shares of Lloyds Banking Group from GBX 61 ($0.74) to GBX 64 ($0.77) in a research note on Tuesday, September 6th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Lloyds Banking Group from GBX 61 ($0.74) to GBX 64 ($0.77) in a research note on Friday, July 29th. Credit Suisse Group lifted their target price on shares of Lloyds Banking Group from GBX 71 ($0.86) to GBX 72 ($0.87) in a research note on Thursday, July 28th. Finally, Berenberg Bank lifted their target price on shares of Lloyds Banking Group from GBX 52 ($0.63) to GBX 55 ($0.66) in a research note on Friday, July 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Lloyds Banking Group presently has an average rating of “Moderate Buy” and an average price target of $59.43.

Lloyds Banking Group Price Performance

The company’s 50 day moving average price is $2.12 and its 200-day moving average price is $2.20. The company has a market capitalization of $36.12 billion, a PE ratio of 6.59, a PEG ratio of 0.20 and a beta of 1.28. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.70.

Lloyds Banking Group Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, September 22nd. Investors of record on Monday, August 8th were issued a dividend of $0.0385 per share. The ex-dividend date was Friday, August 5th. This represents a dividend yield of 4.7%. Lloyds Banking Group’s payout ratio is 21.88%.

Hedge Funds Weigh In On Lloyds Banking Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Assetmark Inc. lifted its holdings in shares of Lloyds Banking Group by 3.4% during the 2nd quarter. Assetmark Inc. now owns 150,002 shares of the financial services provider’s stock valued at $306,000 after acquiring an additional 4,900 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its holdings in Lloyds Banking Group by 14.7% in the 2nd quarter. Pinnacle Wealth Planning Services Inc. now owns 38,414 shares of the financial services provider’s stock worth $78,000 after buying an additional 4,918 shares in the last quarter. West Family Investments Inc. lifted its holdings in Lloyds Banking Group by 6.7% in the 1st quarter. West Family Investments Inc. now owns 81,755 shares of the financial services provider’s stock worth $197,000 after buying an additional 5,124 shares in the last quarter. Lake Street Advisors Group LLC lifted its holdings in Lloyds Banking Group by 12.6% in the 1st quarter. Lake Street Advisors Group LLC now owns 46,243 shares of the financial services provider’s stock worth $111,000 after buying an additional 5,178 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Lloyds Banking Group by 15.8% in the 2nd quarter. Parallel Advisors LLC now owns 39,232 shares of the financial services provider’s stock worth $80,000 after buying an additional 5,358 shares in the last quarter. Institutional investors and hedge funds own 1.98% 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.

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