Lloyds Banking Group PLC (NYSE:LYG) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Lloyds Banking Group has a “Moderate Buy” consensus rating from 12 analysts, with eight buy ratings and four holds. Recent changes included upgrades from Weiss Ratings and Bank of America, while Keefe, Bruyette & Woods downgraded the stock to hold.
• LYG shares opened at $6.07, near their 12-month high of $6.34, with a market capitalization of approximately $88.24 billion. The company’s latest quarterly earnings of $0.13 per share and revenue of $6.57 billion both fell short of analyst estimates.
• Lloyds declared a dividend of $0.084 per share, with payment scheduled for September 25 and a current payout ratio of 37.21%. Institutional investors and hedge funds own approximately 2.15% of the company’s stock.

Shares of Lloyds Banking Group PLC (NYSE:LYG - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twelve ratings firms that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company.

Several equities research analysts have commented on LYG shares. Weiss Ratings upgraded Lloyds Banking Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 21st. Bank of America raised shares of Lloyds Banking Group from a "neutral" rating to a "buy" rating in a research report on Tuesday. Citigroup reaffirmed a "buy" rating on shares of Lloyds Banking Group in a research report on Thursday, July 16th. Keefe, Bruyette & Woods downgraded shares of Lloyds Banking Group from a "moderate buy" rating to a "hold" rating in a research note on Friday, July 17th. Finally, Morgan Stanley restated an "overweight" rating on shares of Lloyds Banking Group in a report on Wednesday.

Lloyds Banking Group Stock Down 0.5%

Shares of LYG stock opened at $6.07 on Friday. Lloyds Banking Group has a 12-month low of $4.31 and a 12-month high of $6.34. 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 firm has a fifty day moving average of $6.05 and a 200-day moving average of $5.61. The company has a market capitalization of $88.24 billion, a price-to-earnings ratio of 14.12, a P/E/G ratio of 0.62 and a beta of 0.87.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last announced its earnings results on Thursday, July 30th. The financial services provider reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.01). The company had revenue of $6.57 billion during the quarter, compared to analyst estimates of $6.86 billion. Lloyds Banking Group had a return on equity of 10.94% and a net margin of 24.97%. As a group, equities research analysts predict that Lloyds Banking Group will post 0.55 earnings per share for the current fiscal year.

Lloyds Banking Group Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, September 25th. Stockholders of record on Monday, August 10th will be paid a dividend of $0.084 per share. The ex-dividend date is Monday, August 10th. This represents a dividend yield of 273.0%. Lloyds Banking Group's dividend payout ratio is currently 37.21%.

Institutional Trading of Lloyds Banking Group

A number of large investors have recently added to or reduced their stakes in the company. Tucker Asset Management LLC acquired a new position in shares of Lloyds Banking Group during the 4th quarter worth about $27,000. Cornerstone Planning Group LLC grew its holdings in Lloyds Banking Group by 131.2% during the first quarter. Cornerstone Planning Group LLC now owns 5,137 shares of the financial services provider's stock worth $27,000 after purchasing an additional 2,915 shares during the period. Harbour Investments Inc. increased its position in Lloyds Banking Group by 47.3% during the fourth quarter. Harbour Investments Inc. now owns 6,386 shares of the financial services provider's stock worth $34,000 after buying an additional 2,051 shares during the last quarter. Manchester Capital Management LLC increased its position in Lloyds Banking Group by 1,216.6% during the fourth quarter. Manchester Capital Management LLC now owns 8,163 shares of the financial services provider's stock worth $43,000 after buying an additional 7,543 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in Lloyds Banking Group by 162.2% in the first quarter. Geneos Wealth Management Inc. now owns 11,724 shares of the financial services provider's stock valued at $45,000 after buying an additional 7,253 shares during the period. Institutional investors and hedge funds own 2.15% of the company's stock.

Lloyds Banking Group Company Profile

Lloyds Banking Group plc is a UK-based banking and financial services company that provides a broad range of retail, commercial and insurance products. Its principal consumer-facing brands include Lloyds Bank, Halifax and Bank of Scotland, through which it offers current accounts, savings, mortgages, credit cards and personal loans. The group also delivers services to small and medium-sized enterprises (SMEs) and larger corporate clients, supplying business accounts, lending, payments and cash-management solutions.

In addition to core banking, Lloyds operates a significant wealth and insurance arm under the Scottish Widows brand, offering life insurance, pensions, investment and retirement planning products.

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