Lloyds Banking Group (NYSE:LYG) Sets New 12-Month High at $2.53

Lloyds Banking Group plc (NYSE:LYGGet Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $2.53 and last traded at $2.52, with a volume of 3412524 shares traded. The stock had previously closed at $2.50.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LYG. Morgan Stanley raised Lloyds Banking Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, November 28th. Bank of America upgraded Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Lloyds Banking Group currently has an average rating of “Hold” and an average target price of $64.17.

Get Our Latest Stock Analysis on Lloyds Banking Group

Lloyds Banking Group Stock Up 1.6 %

The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $41.50 billion, a PE ratio of 6.48, a P/E/G ratio of 0.71 and a beta of 1.30. The firm has a 50 day simple moving average of $2.24 and a two-hundred day simple moving average of $2.18.

Lloyds Banking Group (NYSE:LYGGet Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.11 earnings per share for the quarter. Lloyds Banking Group had a return on equity of 11.29% and a net margin of 17.97%. The firm had revenue of $19.05 billion for the quarter. Research analysts expect that Lloyds Banking Group plc will post 0.35 EPS for the current year.

Lloyds Banking Group Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, May 31st. Investors of record on Friday, April 12th will be issued a dividend of $0.046 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a yield of 5.9%. Lloyds Banking Group’s dividend payout ratio is presently 22.50%.

Hedge Funds Weigh In On Lloyds Banking Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. acquired a new position in Lloyds Banking Group during the second quarter worth $25,000. Naples Money Management LLC acquired a new position in Lloyds Banking Group during the fourth quarter worth $25,000. TCG Advisory Services LLC acquired a new position in Lloyds Banking Group during the fourth quarter worth $25,000. Lido Advisors LLC acquired a new position in Lloyds Banking Group during the second quarter worth $26,000. Finally, Radnor Capital Management LLC acquired a new position in shares of Lloyds Banking Group in the third quarter worth $26,000. 2.15% of the stock is owned by institutional investors and hedge funds.

About Lloyds Banking Group

(Get Free Report)

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.

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