Lloyds Banking Group (LON:LLOY) Cut to "Sector perform" at Royal Bank Of Canada

Key Points

• Royal Bank of Canada downgraded Lloyds Banking Group to “sector perform” and cut its price target from GBX 124 to GBX 115, implying 9.89% upside from the prior close.
• Lloyds shares fell 1.1% to GBX 104.65 in Friday trading, with unusually heavy volume. The stock has a market capitalization of approximately £60.1 billion and a 12-month range of GBX 81.82 to GBX 123.10.
• Analyst sentiment remains mixed, with four Buy, four Hold and one Sell rating; MarketBeat reports a consensus rating of “Hold” and an average price target of GBX 116.

Lloyds Banking Group (LON:LLOY - Get Free Report) was downgraded by equities researchers at Royal Bank Of Canada to a "sector perform" rating in a report released on Friday, Digital Look reports. They presently have a GBX 115 target price on the financial services provider's stock, down from their previous target price of GBX 124. Royal Bank Of Canada's target price indicates a potential upside of 9.89% from the company's previous close.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Lloyds Banking Group from GBX 121 to GBX 123 and gave the company a "neutral" rating in a research report on Tuesday, September 15th. Berenberg Bank reissued a "hold" rating and issued a GBX 117 target price on shares of Lloyds Banking Group in a research report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a GBX 125 target price on shares of Lloyds Banking Group in a research report on Friday, July 31st. Finally, Jefferies Financial Group increased their price target on shares of Lloyds Banking Group from GBX 125 to GBX 127 and gave the stock a "buy" rating in a research note on Wednesday, September 2nd. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Lloyds Banking Group presently has an average rating of "Hold" and a consensus price target of GBX 116.

Lloyds Banking Group Stock Down 1.1%

Shares of LLOY traded down GBX 1.20 during midday trading on Friday, reaching GBX 104.65. 2,147,000,000 shares of the stock were exchanged, compared to its average volume of 180,847,125. The company has a market cap of £60.10 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 1.84 and a beta of 0.94. Lloyds Banking Group has a 12-month low of GBX 81.82 and a 12-month high of GBX 123.10. The firm has a 50 day simple moving average of GBX 109.36 and a 200-day simple moving average of GBX 106.09.

Lloyds Banking Group (LON:LLOY - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported GBX 4.80 EPS for the quarter. Lloyds Banking Group had a return on equity of 11.05% and a net margin of 26.73%. Research analysts expect that Lloyds Banking Group will post 7.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lloyds Banking Group news, insider William Chalmers sold 8,445,139 shares of the company's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of GBX 112, for a total transaction of £9,458,555.68. Also, insider Catherine Woods purchased 1,810 shares of the stock in a transaction dated Wednesday, September 23rd. The stock was acquired at an average cost of GBX 110 per share, for a total transaction of £1,991. 0.15% of the stock is owned by insiders.

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.

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