Berenberg Bank started coverage on shares of Lloyds Banking Group (NYSE:LYG – Free Report) in a research report released on Thursday, Marketbeat Ratings reports. The firm issued a hold rating and a $2.75 target price on the financial services provider’s stock.
Separately, Bank of America upgraded shares of Lloyds Banking Group from a neutral rating to a buy rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lloyds Banking Group presently has an average rating of Hold and an average price target of $55.39.
View Our Latest Stock Report on LYG
Lloyds Banking Group Stock Performance
Lloyds Banking Group (NYSE:LYG – Get Free Report) last issued its earnings results on Thursday, February 22nd. The financial services provider reported $0.11 earnings per share (EPS) for the quarter. The business 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%. On average, research analysts anticipate that Lloyds Banking Group will post 0.32 earnings per share for the current fiscal year.
Lloyds Banking Group Cuts Dividend
The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, May 31st. Investors of record on Friday, April 12th will be given a dividend of $0.046 per share. This represents a dividend yield of 5.9%. The ex-dividend date is Thursday, April 11th. Lloyds Banking Group’s dividend payout ratio is presently 47.37%.
Institutional Investors Weigh In On Lloyds Banking Group
Institutional investors have recently modified their holdings of the business. TCG Advisory Services LLC bought a new stake in shares of Lloyds Banking Group during the 4th quarter valued at about $25,000. Naples Money Management LLC bought a new stake in shares of Lloyds Banking Group during the 4th quarter valued at about $25,000. Atria Wealth Solutions Inc. bought a new stake in shares of Lloyds Banking Group during the 4th quarter valued at about $26,000. D Orazio & Associates Inc. bought a new stake in shares of Lloyds Banking Group during the 4th quarter valued at about $26,000. Finally, Russell Investments Group Ltd. grew its position in Lloyds Banking Group by 234.3% in the 4th quarter. Russell Investments Group Ltd. now owns 11,105 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 7,783 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.
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