Berenberg Bank began coverage on shares of Lloyds Banking Group (NYSE:LYG – Free Report) in a research report released on Thursday, Marketbeat reports. The brokerage issued a hold rating and a $2.75 price target on the financial services provider’s stock.
Separately, Bank of America raised Lloyds Banking Group from a neutral rating to a buy rating in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average target price of $55.39.
Read Our Latest Stock Report on LYG
Lloyds Banking Group Stock Down 0.8 %
Lloyds Banking Group (NYSE:LYG – Get Free Report) last issued its earnings results on Thursday, February 22nd. The financial services provider reported $0.11 earnings per share (EPS) for the quarter. The business had revenue of $19.05 billion during the quarter. Lloyds Banking Group had a return on equity of 11.29% and a net margin of 17.97%. On average, analysts forecast that Lloyds Banking Group will post 0.32 earnings per share for the current fiscal year.
Lloyds Banking Group Cuts Dividend
The business also recently disclosed a semi-annual dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, April 12th will be paid a dividend of $0.046 per share. This represents a dividend yield of 5.9%. The ex-dividend date is Thursday, April 11th. Lloyds Banking Group’s dividend payout ratio (DPR) is presently 45.00%.
Institutional Trading of Lloyds Banking Group
A number of institutional investors have recently made changes to their positions in the stock. Barclays PLC raised its holdings in shares of Lloyds Banking Group by 754.5% during the second quarter. Barclays PLC now owns 17,517 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 15,467 shares in the last quarter. DAVENPORT & Co LLC bought a new position in shares of Lloyds Banking Group during the third quarter valued at approximately $43,000. Sterling Financial Group Inc. bought a new position in shares of Lloyds Banking Group during the third quarter valued at approximately $28,000. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Lloyds Banking Group by 12.9% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 131,062 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 14,945 shares in the last quarter. Finally, Ballentine Partners LLC raised its holdings in shares of Lloyds Banking Group by 41.1% during the third quarter. Ballentine Partners LLC now owns 78,666 shares of the financial services provider’s stock valued at $168,000 after acquiring an additional 22,911 shares in the last quarter. Hedge funds and other institutional investors own 2.15% of the company’s stock.
About Lloyds Banking Group
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.
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