Lloyds Banking Group (NYSE:LYG) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Lloyds Banking Group (NYSE:LYG) from a sell rating to a hold rating in a research report sent to investors on Friday morning, Zacks.com reports.

According to Zacks, “Lloyds Banking Group plc, formerly Lloyds TSB Group plc, is a United Kingdom-based financial services company, whose businesses provide a range of banking and financial services in the United Kingdom and a limited number of locations overseas. Headquartered in London, the company operates through three segments: UK Retail Banking, Insurance and Investments, and Wholesale and International Banking. The UK Retail Banking segment provides banking and financial services, mortgages, and private banking services. The Insurance and Investments segment offers life assurance, pensions and savings products, general insurance, and fund management services. The Wholesale and International Banking segment provides banking and related services for companies, small and medium-sized businesses, banks, and financial institutions; and asset finance to personal and corporate customers. “

A number of other research firms have also recently commented on LYG. JPMorgan Chase & Co. reaffirmed an overweight rating on shares of Lloyds Banking Group in a research report on Monday, December 6th. UBS Group reissued a buy rating on shares of Lloyds Banking Group in a research report on Monday, November 1st. AlphaValue raised shares of Lloyds Banking Group to a buy rating in a research report on Wednesday, November 10th. Deutsche Bank Aktiengesellschaft reissued a buy rating on shares of Lloyds Banking Group in a research report on Friday, September 17th. Finally, Barclays reissued an overweight rating on shares of Lloyds Banking Group in a research report on Friday, October 15th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Buy and an average price target of $2.75.

Shares of NYSE LYG opened at $3.00 on Friday. The firm has a fifty day moving average of $2.57 and a 200 day moving average of $2.52. Lloyds Banking Group has a one year low of $1.74 and a one year high of $3.00.

Lloyds Banking Group (NYSE:LYG) last announced its quarterly earnings data on Thursday, October 28th. The financial services provider reported $0.15 earnings per share (EPS) for the quarter. The firm had revenue of $5.77 billion during the quarter. Equities research analysts expect that Lloyds Banking Group will post 0.45 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Glenmede Trust Co. NA purchased a new position in shares of Lloyds Banking Group in the second quarter valued at $25,000. Keybank National Association OH purchased a new position in shares of Lloyds Banking Group in the second quarter valued at $26,000. Avantax Advisory Services Inc. purchased a new position in shares of Lloyds Banking Group in the third quarter valued at $26,000. Vista Wealth Management Group LLC purchased a new stake in Lloyds Banking Group during the 3rd quarter worth about $26,000. Finally, Brighton Jones LLC purchased a new stake in Lloyds Banking Group during the 3rd quarter worth about $27,000. 1.41% of the stock is owned by institutional investors.

About Lloyds Banking Group

Lloyds Banking Group Plc is a financial services company, which engages in the provision of a wide range of banking and financial services. It operates through the following segments: Retail, Commercial Banking, and Insurance and Wealth. The Retail segment offers broad range of financial service products, including current accounts, savings, mortgages, motor finance and unsecured consumer lending to personal and small business customers.

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Analyst Recommendations for Lloyds Banking Group (NYSE:LYG)

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