Lloyds Banking Group (LON:LLOY) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Lloyds Banking Group plc (LON:LLOY) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 97.40 and traded as high as GBX 100.28. Lloyds Banking Group shares last traded at GBX 97.97, with a volume of 168,255,313 shares.

Analysts Set New Price Targets

Several equities analysts have issued reports on LLOY shares. JPMorgan Chase & Co. dropped their price objective on Lloyds Banking Group from GBX 171 to GBX 121 and set a “neutral” rating on the stock in a report on Monday, April 13th. Deutsche Bank Aktiengesellschaft dropped their price objective on Lloyds Banking Group to GBX 125 and set a “buy” rating on the stock in a report on Tuesday, February 3rd. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 125 price objective on shares of Lloyds Banking Group in a report on Wednesday, April 29th. Shore Capital Group reaffirmed a “sell” rating on shares of Lloyds Banking Group in a report on Thursday, April 30th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 120 price objective on shares of Lloyds Banking Group in a report on Thursday, April 30th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Lloyds Banking Group has an average rating of “Moderate Buy” and an average target price of GBX 113.44.

Lloyds Banking Group Stock Up 1.1%

The stock has a fifty day moving average of GBX 97.82 and a 200-day moving average of GBX 97.40. The stock has a market cap of £57.82 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 1.84 and a beta of 0.94.

Lloyds Banking Group (LON:LLOY) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported GBX 2.40 earnings per share (EPS) for the quarter. Lloyds Banking Group had a return on equity of 10.75% and a net margin of 25.91%.The firm had revenue of GBX 478.50 billion for the quarter. Equities research analysts forecast that Lloyds Banking Group plc will post 7.3199528 earnings per share for the current fiscal year.

About Lloyds Banking Group

We are the largest UK retail and commercial financial services provider with over 25 million customers and a presence in nearly every community.

The Group’s main business activities are retail and commercial banking, general insurance and long-term savings, provided through the largest branch network and digital bank in the UK, with well recognised brands including Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows.

Our shares are quoted on the London and New York stock exchanges and we are one of the largest companies in the FTSE 100 index.