Lloyds Banking Group PLC (NYSE:LYG) shares gapped up prior to trading on Wednesday . The stock had previously closed at $3.03, but opened at $3.10. Lloyds Banking Group shares last traded at $3.15, with a volume of 5572474 shares trading hands.

A number of research firms have recently issued reports on LYG. Zacks Investment Research lowered Lloyds Banking Group from a “strong-buy” rating to a “hold” rating in a report on Friday, May 25th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Lloyds Banking Group in a report on Monday, June 4th. Citigroup raised Lloyds Banking Group from a “sell” rating to a “neutral” rating in a report on Thursday, August 2nd. ValuEngine downgraded Lloyds Banking Group from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Finally, Jefferies Financial Group restated a “buy” rating on shares of Lloyds Banking Group in a research note on Tuesday, August 14th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $4.25.

The company has a quick ratio of 1.40, a current ratio of 1.43 and a debt-to-equity ratio of 2.22. The company has a market cap of $56.76 billion, a price-to-earnings ratio of 5.55 and a beta of 0.85.

Lloyds Banking Group (NYSE:LYG) last posted its quarterly earnings results on Tuesday, July 31st. The financial services provider reported $0.16 earnings per share for the quarter. Lloyds Banking Group had a return on equity of 15.62% and a net margin of 15.05%. The firm had revenue of $4.32 billion for the quarter. analysts forecast that Lloyds Banking Group PLC will post 0.4 EPS for the current fiscal year.

The firm also recently declared a Semi-Annual dividend, which will be paid on Tuesday, October 9th. Investors of record on Friday, August 17th will be paid a $0.056 dividend. The ex-dividend date of this dividend is Thursday, August 16th. This is an increase from Lloyds Banking Group’s previous Semi-Annual dividend of $0.05. Lloyds Banking Group’s payout ratio is 20.00%.

Institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN boosted its position in Lloyds Banking Group by 28.9% during the first quarter. Wells Fargo & Company MN now owns 8,481,982 shares of the financial services provider’s stock worth $31,552,000 after purchasing an additional 1,903,723 shares in the last quarter. Comerica Bank boosted its position in Lloyds Banking Group by 2.1% during the first quarter. Comerica Bank now owns 1,050,940 shares of the financial services provider’s stock worth $3,994,000 after purchasing an additional 22,107 shares in the last quarter. Bbva Compass Bancshares Inc. boosted its position in Lloyds Banking Group by 59.2% during the first quarter. Bbva Compass Bancshares Inc. now owns 378,400 shares of the financial services provider’s stock worth $1,408,000 after purchasing an additional 140,761 shares in the last quarter. ETRADE Capital Management LLC boosted its position in Lloyds Banking Group by 43.2% during the first quarter. ETRADE Capital Management LLC now owns 762,548 shares of the financial services provider’s stock worth $2,837,000 after purchasing an additional 229,978 shares in the last quarter. Finally, Aperio Group LLC boosted its position in Lloyds Banking Group by 13.5% during the first quarter. Aperio Group LLC now owns 1,711,578 shares of the financial services provider’s stock worth $6,367,000 after purchasing an additional 204,183 shares in the last quarter. Hedge funds and other institutional investors own 2.55% of the company’s stock.

About Lloyds Banking Group (NYSE:LYG)

Lloyds Banking Group plc provides banking and financial services under the Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows brands in the United Kingdom and internationally. The company operates through three segments: Retail, Commercial Banking, and Insurance and Wealth. The Retail segment offers a range of financial service products, including current accounts, savings accounts, mortgages, motor finance, and unsecured consumer lending products to personal and small business customers.

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