Barclays Cuts Lloyds Banking Group (LON:LLOY) Price Target to GBX 80

Lloyds Banking Group (LON:LLOY) had its price objective lowered by Barclays from GBX 85 ($1.11) to GBX 80 ($1.05) in a research report report published on Monday morning, ThisIsMoney.Co.Uk reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other equities research analysts have also recently commented on the company. UBS Group set a GBX 80 ($1.05) price target on Lloyds Banking Group and gave the company a buy rating in a report on Wednesday, February 20th. Morgan Stanley raised Lloyds Banking Group to an overweight rating and set a GBX 78 ($1.02) price target for the company in a report on Monday, February 11th. JPMorgan Chase & Co. set a GBX 80 ($1.05) price target on Lloyds Banking Group and gave the company a buy rating in a report on Thursday, February 21st. Shore Capital reaffirmed a buy rating on shares of Lloyds Banking Group in a report on Wednesday, May 1st. Finally, Credit Suisse Group set a GBX 83 ($1.08) price target on Lloyds Banking Group and gave the company a buy rating in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of Buy and an average price target of GBX 71 ($0.93).

LON:LLOY opened at GBX 58.05 ($0.76) on Monday. Lloyds Banking Group has a one year low of GBX 49.52 ($0.65) and a one year high of GBX 66.79 ($0.87). The company has a market capitalization of $41.15 billion and a P/E ratio of 10.55.

In other Lloyds Banking Group news, insider Stuart Sinclair acquired 362,664 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was bought at an average cost of GBX 61 ($0.80) per share, for a total transaction of £221,225.04 ($289,069.70). Also, insider George Culmer sold 83,581 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of GBX 58 ($0.76), for a total value of £48,476.98 ($63,343.76).

About Lloyds Banking Group

Lloyds Banking Group plc provides banking and financial services under the Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows brands in the United Kingdom and internationally. 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 accounts, mortgages, motor finance, unsecured consumer loans, leasing solutions, and credit cards to personal and small business customers.

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