Brokerages Set Lloyds Banking Group plc (NYSE:LYG) Target Price at $99.00

Lloyds Banking Group plc (NYSE:LYG) has been assigned an average recommendation of “Hold” from the six research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $79.75.

Several brokerages have recently weighed in on LYG. Berenberg Bank started coverage on shares of Lloyds Banking Group in a research note on Thursday. They set a “hold” rating and a $2.75 price target on the stock. Bank of America upgraded Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research report on Thursday, March 21st.

Lloyds Banking Group Stock Up 3.6 %

Lloyds Banking Group stock opened at $2.61 on Thursday. The stock has a market cap of $41.57 billion, a PE ratio of 6.87, a price-to-earnings-growth ratio of 1.06 and a beta of 1.32. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a fifty day moving average of $2.48 and a 200 day moving average of $2.28. Lloyds Banking Group has a one year low of $1.88 and a one year high of $2.72.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.11 earnings per share for the quarter. The firm had revenue of $19.05 billion for the quarter. Lloyds Banking Group had a net margin of 13.41% and a return on equity of 10.35%. As a group, sell-side analysts predict that Lloyds Banking Group will post 0.32 EPS for the current year.

Lloyds Banking Group Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, April 12th will be paid a $0.046 dividend. 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 Trading of Lloyds Banking Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bruce G. Allen Investments LLC grew its holdings in Lloyds Banking Group by 6.9% during the 1st quarter. Bruce G. Allen Investments LLC now owns 61,412 shares of the financial services provider’s stock valued at $159,000 after buying an additional 3,986 shares in the last quarter. Brookstone Capital Management grew its stake in Lloyds Banking Group by 12.1% during the first quarter. Brookstone Capital Management now owns 38,516 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 4,167 shares in the last quarter. GAMMA Investing LLC increased its holdings in Lloyds Banking Group by 21.7% in the 1st quarter. GAMMA Investing LLC now owns 24,976 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 4,455 shares during the last quarter. Fifth Third Bancorp lifted its stake in Lloyds Banking Group by 53.9% in the 1st quarter. Fifth Third Bancorp now owns 13,283 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 4,654 shares in the last quarter. Finally, Kestra Private Wealth Services LLC boosted its holdings in shares of Lloyds Banking Group by 29.7% during the 4th quarter. Kestra Private Wealth Services LLC now owns 21,006 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 4,813 shares during the last quarter. Institutional investors own 2.15% of the company’s stock.

About Lloyds Banking Group

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.