Berenberg Bank began coverage on shares of Lloyds Banking Group (NYSE:LYG – Free Report) in a research report released on Thursday morning, Marketbeat.com reports. The firm issued a hold rating and a $2.75 price objective on the financial services provider’s stock.
Separately, Bank of America raised Lloyds Banking Group from a neutral rating to a buy rating in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Lloyds Banking Group currently has an average rating of Hold and an average target price of $55.39.
Read Our Latest Analysis on Lloyds Banking Group
Lloyds Banking Group Price 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. Lloyds Banking Group had a net margin of 13.41% and a return on equity of 10.35%. The business had revenue of $19.05 billion during the quarter. Equities 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. Shareholders of record on Friday, April 12th will be given a dividend of $0.046 per share. This represents a yield of 5.9%. The ex-dividend date is Thursday, April 11th. Lloyds Banking Group’s payout ratio is currently 47.37%.
Institutional Investors Weigh In On Lloyds Banking Group
Institutional investors and hedge funds have recently made changes to their positions in the business. TCG Advisory Services LLC acquired a new position in Lloyds Banking Group in the 4th quarter valued at about $25,000. Naples Money Management LLC acquired a new position in shares of Lloyds Banking Group in the fourth quarter valued at approximately $25,000. Atria Wealth Solutions Inc. purchased a new stake in shares of Lloyds Banking Group during the fourth quarter worth approximately $26,000. D Orazio & Associates Inc. purchased a new position in Lloyds Banking Group in the 4th quarter valued at $26,000. Finally, Russell Investments Group Ltd. increased its stake 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 valued at $27,000 after buying an additional 7,783 shares during the period. 2.15% of the stock is owned by hedge funds and other institutional investors.
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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