Lloyds Banking Group (NYSE:LYG) Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Lloyds Banking Group from “hold” to “buy,” while broader analyst sentiment remains “Moderate Buy,” with eight Buy ratings and four Holds.
• Lloyds shares opened at $5.83, compared with a 52-week range of $4.36 to $6.34; the company has an $84.45 billion market capitalization and a P/E ratio of 13.55.
• The bank’s latest quarterly results fell slightly short of expectations, reporting $0.13 in EPS versus $0.14 expected and revenue of $6.57 billion versus $6.86 billion forecast.

Lloyds Banking Group (NYSE:LYG - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday, Wall Street Zen reports.

A number of other equities analysts also recently weighed in on the stock. Berenberg Bank started coverage on shares of Lloyds Banking Group in a research note on Wednesday, June 24th. They set a "hold" rating for the company. Keefe, Bruyette & Woods cut Lloyds Banking Group from a "moderate buy" rating to a "hold" rating in a research report on Friday, July 17th. Morgan Stanley reaffirmed an "overweight" rating on shares of Lloyds Banking Group in a research report on Wednesday, September 2nd. Citigroup reiterated a "buy" rating on shares of Lloyds Banking Group in a research note on Thursday, July 16th. Finally, Weiss Ratings raised Lloyds Banking Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, August 21st. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy".

Lloyds Banking Group Price Performance

Shares of LYG stock opened at $5.83 on Friday. The business's fifty day moving average is $6.04 and its 200 day moving average is $5.63. The company has a quick ratio of 0.56, a current ratio of 1.52 and a debt-to-equity ratio of 2.12. The stock has a market cap of $84.45 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 0.60 and a beta of 0.87. Lloyds Banking Group has a twelve month low of $4.36 and a twelve month high of $6.34.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01). The firm had revenue of $6.57 billion for the quarter, compared to analysts' expectations of $6.86 billion. Lloyds Banking Group had a net margin of 24.97% and a return on equity of 10.94%. Research analysts expect that Lloyds Banking Group will post 0.55 EPS for the current fiscal year.

Institutional Trading of Lloyds Banking Group

A number of hedge funds have recently bought and sold shares of the company. WCM Investment Management LLC bought a new position in shares of Lloyds Banking Group during the first quarter valued at approximately $128,228,000. Squarepoint Ops LLC lifted its stake in shares of Lloyds Banking Group by 67.4% during the 2nd quarter. Squarepoint Ops LLC now owns 642,950 shares of the financial services provider's stock worth $3,748,000 after acquiring an additional 258,941 shares during the last quarter. NINE MASTS CAPITAL Ltd purchased a new position in Lloyds Banking Group during the 2nd quarter valued at $8,072,000. Equitable Trust Co. bought a new position in Lloyds Banking Group in the 1st quarter valued at $1,906,000. Finally, Assetmark Inc. increased its stake in Lloyds Banking Group by 12.7% in the first quarter. Assetmark Inc. now owns 3,849,993 shares of the financial services provider's stock worth $19,365,000 after purchasing an additional 433,849 shares during the period. Hedge funds and other institutional investors own 2.15% of the company's stock.

Lloyds Banking Group Company Profile

Lloyds Banking Group plc is a major United Kingdom financial services provider whose shares trade on the New York Stock Exchange under the symbol LYG. The group serves individuals, families, small businesses and larger commercial customers through a range of banking, lending, insurance, investment and wealth-management services.

Its principal brands include Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows. Products and services include current and savings accounts, mortgages, personal loans, credit cards, business banking, commercial lending, investment products, pensions and life insurance.

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