Lloyds Banking Group (LON:LLOY) Share Price Crosses Above Two Hundred Day Moving Average of $51.45

Lloyds Banking Group plc (LON:LLOY)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 51.45 ($0.66) and traded as high as GBX 58.85 ($0.76). Lloyds Banking Group shares last traded at GBX 56.16 ($0.72), with a volume of 216,639,338 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LLOY. Shore Capital reissued a “hold” rating on shares of Lloyds Banking Group in a report on Thursday, July 25th. Peel Hunt started coverage on shares of Lloyds Banking Group in a research note on Friday, April 19th. They issued a “hold” rating and a GBX 55 ($0.71) price objective on the stock. Citigroup reaffirmed a “buy” rating on shares of Lloyds Banking Group in a research note on Monday, July 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Lloyds Banking Group from GBX 50 ($0.64) to GBX 54 ($0.69) and gave the company an “underweight” rating in a research note on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of GBX 56.83 ($0.73).

Lloyds Banking Group Stock Down 1.5 %

The firm has a market capitalization of £34.87 billion, a P/E ratio of 790.57, a price-to-earnings-growth ratio of 1.89 and a beta of 1.23. The company’s 50 day moving average is GBX 56.77 and its 200-day moving average is GBX 51.53.

Lloyds Banking Group Cuts Dividend

The business also recently announced a dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 1st will be paid a dividend of GBX 1.06 ($0.01) per share. This represents a yield of 1.78%. The ex-dividend date of this dividend is Thursday, August 1st. Lloyds Banking Group’s dividend payout ratio is presently 4,285.71%.

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.