JPMorgan Chase & Co. Raises Lloyds Banking Group (LON:LLOY) Price Target to GBX 123

Key Points

• JPMorgan raised Lloyds Banking Group’s price target from GBX 121 to GBX 123 while maintaining a neutral rating, implying 12.23% potential upside from the current price.
• Analyst sentiment is broadly positive: Lloyds has a consensus “Moderate Buy” rating and an average price target of GBX 114.60, with recent targets ranging from GBX 117 to GBX 127.
• Lloyds shares opened at GBX 109.60, with a £63.44 billion market capitalization. Insider William Chalmers recently sold 8.45 million shares for approximately £9.46 million.

Lloyds Banking Group (LON:LLOY - Get Free Report) had its price target lifted by equities researchers at JPMorgan Chase & Co. from GBX 121 to GBX 123 in a report issued on Tuesday, Digital Look reports. The firm currently has a "neutral" rating on the financial services provider's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 12.23% from the stock's current price.

A number of other research analysts also recently commented on the company. Jefferies Financial Group boosted their price target on Lloyds Banking Group from GBX 125 to GBX 127 and gave the company a "buy" rating in a research note on Wednesday, September 2nd. Royal Bank Of Canada reiterated an "outperform" rating and issued a GBX 124 target price on shares of Lloyds Banking Group in a research report on Friday. Berenberg Bank reiterated a "hold" rating and set a GBX 117 price target on shares of Lloyds Banking Group in a report on Wednesday, June 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a GBX 125 target price on shares of Lloyds Banking Group in a report on Friday, July 31st. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Lloyds Banking Group presently has a consensus rating of "Moderate Buy" and an average target price of GBX 114.60.

Lloyds Banking Group Stock Up 0.2%

LON:LLOY opened at GBX 109.60 on Tuesday. The company has a market cap of £63.44 billion, a P/E ratio of 13.70, a price-to-earnings-growth ratio of 1.84 and a beta of 0.91. Lloyds Banking Group has a twelve month low of GBX 81.04 and a twelve month high of GBX 117.90. The business has a 50 day moving average price of GBX 112.65 and a two-hundred day moving average price of GBX 104.47.

Lloyds Banking Group (LON:LLOY - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported GBX 4.80 earnings per share for the quarter. Lloyds Banking Group had a return on equity of 11.05% and a net margin of 26.73%. As a group, analysts anticipate that Lloyds Banking Group will post 7.3199528 earnings per share for the current fiscal year.

Insider Activity at Lloyds Banking Group

In related news, insider William Chalmers sold 8,445,139 shares of the company's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of GBX 112, for a total value of £9,458,555.68. 0.15% of the stock is owned by insiders.

Lloyds Banking Group Company Profile

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.

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