Royal Bank Of Canada Reiterates Outperform Rating for Lloyds Banking Group (LON:LLOY)

Key Points

• Royal Bank of Canada reiterated its “outperform” rating on Lloyds Banking Group and maintained a GBX 124 price target, implying 12.32% upside from the prior close.
• Analyst sentiment remains positive overall, with six Buy ratings, three Holds and one Sell; MarketBeat lists a consensus “Moderate Buy” rating and an average target of GBX 114.40.
• Lloyds shares opened at GBX 110.40 and were trading 1.2% higher, while the bank reported quarterly EPS of GBX 4.80 and a 26.73% net margin.

Lloyds Banking Group (LON:LLOY - Get Free Report)'s stock had its "outperform" rating restated by equities researchers at Royal Bank Of Canada in a research report issued to clients and investors on Friday, London Stock Exchange reports. They currently have a GBX 124 price target on the financial services provider's stock. Royal Bank Of Canada's target price suggests a potential upside of 12.32% from the stock's previous close.

A number of other equities analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a GBX 125 price objective on shares of Lloyds Banking Group in a research note on Friday, July 31st. Jefferies Financial Group upped their price objective on Lloyds Banking Group from GBX 125 to GBX 127 and gave the stock a "buy" rating in a research note on Wednesday, September 2nd. Finally, Berenberg Bank reissued a "hold" rating and issued a GBX 117 target price on shares of Lloyds Banking Group in a research note on Wednesday, June 24th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of GBX 114.40.

Lloyds Banking Group Trading Up 1.2%

Shares of LLOY opened at GBX 110.40 on Friday. The stock has a market cap of £63.90 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 1.84 and a beta of 0.91. Lloyds Banking Group has a 1 year low of GBX 81.04 and a 1 year high of GBX 117.90. The stock's 50-day moving average price is GBX 112.84 and its two-hundred day moving average price is GBX 104.37.

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

Insider Transactions at Lloyds Banking Group

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