Lloyds Banking Group PLC (NYSE:LYG)’s share price was down 2.4% during mid-day trading on Thursday . The company traded as low as $2.79 and last traded at $2.81, with a volume of 4,173,812 shares. The stock had previously closed at $2.88.

A number of equities analysts have recently issued reports on LYG shares. Deutsche Bank AG restated a “buy” rating on shares of Lloyds Banking Group PLC in a research report on Sunday, June 26th. Macquarie upgraded shares of Lloyds Banking Group PLC from a “neutral” rating to an “outperform” rating in a research report on Tuesday, July 5th. Barclays PLC downgraded Lloyds Banking Group PLC from an “overweight” rating to an “equal weight” rating in a report on Monday, June 27th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Lloyds Banking Group PLC in a report on Monday, April 25th. Finally, Berenberg Bank raised Lloyds Banking Group PLC from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of GBX 82.08 ($1.08).

The stock has a market capitalization of $40.76 billion and a price-to-earnings ratio of 26.02. The stock has a 50-day moving average of $3.11 and a 200-day moving average of $3.71.

The company also recently declared a dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Friday, August 12th will be issued a $0.045 dividend. The ex-dividend date of this dividend is Wednesday, August 10th.

A hedge fund recently raised its stake in Lloyds Banking Group PLC stock. Wells Fargo & Company MN increased its position in Lloyds Banking Group PLC (NYSE:LYG) by 7.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,778,524 shares of the financial services provider’s stock after buying an additional 487,292 shares during the period. Wells Fargo & Company MN’s holdings in Lloyds Banking Group PLC were worth $29,554,000 as of its most recent filing with the SEC.

LLOYDS BANKING GROUP plc provides financial services to individual and business customers in the United Kingdom but also overseas. The Company’s business activities include retail and commercial banking, long-term savings, protection and investment. It operates through its segments, including Retail, Commercial Banking, Consumer Finance and Insurance.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.