Lloyds Banking Group PLC (NYSE:LYG)’s share price fell 2% during mid-day trading on Monday . The company traded as low as $2.87 and last traded at $2.87, with a volume of 1,598,036 shares. The stock had previously closed at $2.93.

A number of research firms have issued reports on LYG. Deutsche Bank AG reiterated a “buy” rating on shares of Lloyds Banking Group PLC in a report on Thursday, May 26th. Zacks Investment Research upgraded Lloyds Banking Group PLC from a “sell” rating to a “buy” rating and set a $4.75 price objective for the company in a report on Wednesday, June 22nd. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Lloyds Banking Group PLC in a report on Monday, April 25th. Finally, Barclays PLC downgraded Lloyds Banking Group PLC from an “overweight” rating to an “equal weight” rating in a report on Monday, June 27th. Three 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 stock. Lloyds Banking Group PLC currently has an average rating of “Hold” and a consensus price target of GBX 82.08 ($1.06).

The stock has a 50-day moving average of $2.90 and a 200 day moving average of $3.66. The stock has a market cap of $41.34 billion and a price-to-earnings ratio of 26.3880.

The company also recently announced a dividend, which will be paid on Tuesday, October 11th. Shareholders of record on Friday, August 12th will be issued a $0.045 dividend. 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 boosted its stake in Lloyds Banking Group PLC (NYSE:LYG) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm 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.

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