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

Several analysts have recently issued reports on LYG shares. Zacks Investment Research cut shares of Lloyds Banking Group PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Barclays PLC cut shares of Lloyds Banking Group PLC from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 27th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Lloyds Banking Group PLC in a research note on Monday, April 25th. Deutsche Bank AG reissued a “buy” rating on shares of Lloyds Banking Group PLC in a research note on Monday, April 11th. Finally, Bank of America Corp. cut shares of Lloyds Banking Group PLC from a “neutral” rating to an “underperform” rating in a research note on Monday, June 27th. Three equities research analysts have rated the stock with a sell rating, five have issued 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 $41.92 billion and a P/E ratio of 26.76. The firm’s 50-day moving average price is $3.09 and its 200-day moving average price is $3.70.

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

An institutional investor recently raised its position in Lloyds Banking Group PLC stock. Wells Fargo & Company MN raised its position in shares of Lloyds Banking Group PLC (NYSE:LYG) by 7.7% during the fourth quarter, according to its most recent filing 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 at the end of the most recent quarter.

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.

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