Lloyds Banking Group PLC (NYSE:LYG) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of Lloyds Banking Group PLC (NYSE:LYG) have been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company.

LYG has been the topic of several research reports. Wall Street Zen downgraded Lloyds Banking Group from a “buy” rating to a “hold” rating in a report on Sunday, September 27th. Citigroup reiterated a “buy” rating on shares of Lloyds Banking Group in a report on Thursday, July 16th. Berenberg Bank began coverage on Lloyds Banking Group in a research report on Wednesday, June 24th. They set a “hold” rating on the stock. Morgan Stanley restated an “overweight” rating on shares of Lloyds Banking Group in a research note on Wednesday, September 2nd. Finally, Weiss Ratings raised shares of Lloyds Banking Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, August 21st.

Lloyds Banking Group Price Performance

Lloyds Banking Group stock opened at $5.50 on Wednesday. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.52 and a quick ratio of 0.56. The stock has a market cap of $79.82 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 0.55 and a beta of 0.91. The firm has a 50-day moving average of $5.97 and a two-hundred day moving average of $5.66. Lloyds Banking Group has a 1 year low of $4.42 and a 1 year high of $6.34.

Lloyds Banking Group (NYSE:LYG) last issued its earnings results on Thursday, July 30th. The financial services provider reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The company had revenue of $6.57 billion for the quarter, compared to analysts’ expectations of $6.86 billion. Lloyds Banking Group had a return on equity of 10.94% and a net margin of 24.97%. On average, research analysts forecast that Lloyds Banking Group will post 0.55 earnings per share for the current year.

Lloyds Banking Group Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, September 25th. Stockholders of record on Monday, August 10th were issued a $0.0840 dividend. The ex-dividend date was Monday, August 10th. This represents a dividend yield of 273.0%. This is a decrease from Lloyds Banking Group’s previous dividend of $0.1340. Lloyds Banking Group’s dividend payout ratio (DPR) is presently 39.53%.

Hedge Funds Weigh In On Lloyds Banking Group

A number of hedge funds and other institutional investors have recently modified their holdings of LYG. Cornerstone Planning Group LLC increased its holdings in Lloyds Banking Group by 131.2% during the first quarter. Cornerstone Planning Group LLC now owns 5,137 shares of the financial services provider’s stock valued at $27,000 after buying an additional 2,915 shares during the period. Harbour Investments Inc. lifted its holdings in Lloyds Banking Group by 47.3% during the fourth quarter. Harbour Investments Inc. now owns 6,386 shares of the financial services provider’s stock worth $34,000 after buying an additional 2,051 shares during the period. Manchester Capital Management LLC boosted its position in Lloyds Banking Group by 1,216.6% during the 4th quarter. Manchester Capital Management LLC now owns 8,163 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 7,543 shares in the last quarter. Waverly Advisors LLC boosted its position in Lloyds Banking Group by 20.8% during the 1st quarter. Waverly Advisors LLC now owns 12,423 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 2,138 shares in the last quarter. Finally, Tanager Wealth Management LLP purchased a new position in shares of Lloyds Banking Group in the 1st quarter valued at $66,000. 2.15% of the stock is currently owned by institutional investors.

About Lloyds Banking Group

Lloyds Banking Group plc is a United Kingdom-based financial services company headquartered in London. Its principal businesses include retail banking, commercial banking, insurance, pensions and long-term savings. The group serves individuals, small and medium-sized businesses, commercial clients and institutional customers primarily across the United Kingdom.

The group operates through well-known brands including Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows. Its products and services include current and savings accounts, mortgages, credit cards, personal loans, business banking, corporate lending, investment products, insurance and retirement planning.