JPMorgan Chase & Co. Boosts Lloyds Banking Group (LON:LLOY) Price Target to GBX 45

Lloyds Banking Group (LON:LLOY) had its price target lifted by JPMorgan Chase & Co. from GBX 41 ($0.52) to GBX 45 ($0.57) in a research note issued to investors on Tuesday, Marketbeat.com reports. They currently have an underweight rating on the financial services provider’s stock.

Several other equities research analysts have also recently weighed in on the stock. Berenberg Bank upped their price objective on shares of Lloyds Banking Group from GBX 55 ($0.70) to GBX 58 ($0.73) and gave the stock a hold rating in a research report on Thursday, February 22nd. Keefe, Bruyette & Woods raised shares of Lloyds Banking Group to a market perform rating and set a GBX 50 ($0.63) price objective for the company in a research report on Monday, February 12th. Shore Capital reaffirmed a buy rating on shares of Lloyds Banking Group in a research report on Thursday, February 22nd. Finally, Jefferies Financial Group reissued a buy rating and set a GBX 59 ($0.75) target price on shares of Lloyds Banking Group in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Lloyds Banking Group presently has a consensus rating of Moderate Buy and an average target price of GBX 57.83 ($0.73).

Lloyds Banking Group Stock Down 1.2 %

LLOY opened at GBX 50.66 ($0.64) on Tuesday. Lloyds Banking Group has a twelve month low of GBX 39.42 ($0.50) and a twelve month high of GBX 54.28 ($0.69). The company has a 50-day simple moving average of GBX 47.72 and a 200 day simple moving average of GBX 45.25. The stock has a market capitalization of £32.26 billion, a price-to-earnings ratio of 633.25, a P/E/G ratio of 1.94 and a beta of 1.22.

Lloyds Banking Group Increases Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, May 21st. Stockholders of record on Thursday, April 11th will be paid a GBX 1.84 ($0.02) dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a dividend yield of 4.25%. This is an increase from Lloyds Banking Group’s previous dividend of $0.92. Lloyds Banking Group’s dividend payout ratio is currently 3,750.00%.

Insider Activity

In other news, insider William Chalmers acquired 128,118 shares of the stock in a transaction dated Monday, March 25th. The stock was bought at an average price of GBX 52 ($0.66) per share, with a total value of £66,621.36 ($84,320.16). In other news, insider Robin Budenberg bought 1,000,000 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was acquired at an average price of GBX 45 ($0.57) per share, with a total value of £450,000 ($569,548.16). Also, insider William Chalmers bought 128,118 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were purchased at an average cost of GBX 52 ($0.66) per share, with a total value of £66,621.36 ($84,320.16). 0.24% of the stock is currently owned by insiders.

Lloyds Banking Group Company Profile

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom and internationally. It operates in three segments: Retail; Commercial Banking; and Insurance, Pensions and Investments. The Retail segment offers a range of financial service products, including current accounts, savings, mortgages, motor finance, unsecured loans, leasing solutions, and credit cards to personal customers.