Citigroup Forecasts Strong Price Appreciation for Lloyds Banking Group (LON:LLOY) Stock

Key Points

• Citigroup raised its price target for Lloyds Banking Group from GBX 75 to GBX 77, indicating a potential upside of 0.55% from its previous close.
• Lloyds Banking Group's recent quarterly earnings revealed an EPS of GBX 3.80, along with a return on equity of 11.22%.
• Insider transactions included CEO Charlie Nunn purchasing 238,593 shares at GBX 76 per share, reflecting confidence in the company's future performance.

Lloyds Banking Group (LON:LLOY - Get Free Report) had its price target upped by analysts at Citigroup from GBX 75 ($0.99) to GBX 77 ($1.02) in a report issued on Friday, MarketBeat Ratings reports. The firm presently has a "neutral" rating on the financial services provider's stock. Citigroup's price objective would suggest a potential upside of 0.55% from the company's previous close.

A number of other research analysts also recently weighed in on the company. Shore Capital restated a "hold" rating and issued a GBX 74 ($0.98) price target on shares of Lloyds Banking Group in a research note on Thursday, July 24th. JPMorgan Chase & Co. lifted their target price on Lloyds Banking Group from GBX 78 ($1.03) to GBX 79 ($1.04) and gave the stock an "underweight" rating in a research note on Friday, July 25th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, Lloyds Banking Group currently has an average rating of "Hold" and an average price target of GBX 69 ($0.91).

Lloyds Banking Group Trading Down 1.6%

LLOY opened at GBX 76.58 ($1.01) on Friday. The stock has a market cap of £46.43 billion, a PE ratio of 9.69, a P/E/G ratio of 1.84 and a beta of 1.23. Lloyds Banking Group has a 1 year low of GBX 52.44 ($0.69) and a 1 year high of GBX 80 ($1.06). The stock's 50 day simple moving average is GBX 76.80 and its 200-day simple moving average is GBX 71.25.

Lloyds Banking Group (LON:LLOY - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported GBX 3.80 ($0.05) EPS for the quarter. Lloyds Banking Group had a return on equity of 11.22% and a net margin of 16.66%. Equities analysts forecast that Lloyds Banking Group will post 7.3199528 earnings per share for the current fiscal year.

Insider Activity at Lloyds Banking Group

In other Lloyds Banking Group news, insider Charlie Nunn acquired 238,593 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was bought at an average price of GBX 76 ($1.00) per share, with a total value of £181,330.68 ($239,538.55). Also, insider William Chalmers purchased 152,181 shares of the stock in a transaction on Friday, June 20th. The shares were purchased at an average price of GBX 76 ($1.00) per share, for a total transaction of £115,657.56 ($152,784.10). Corporate insiders own 0.17% of the company's stock.

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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