Townsquare Capital LLC Has $6.10 Million Stock Position in Lloyds Banking Group PLC (NYSE:LYG)

Key Points

• Townsquare Capital LLC increased its stake in Lloyds Banking Group by 4.2%, holding over 1.59 million shares valued at approximately $6.1 million as of the first quarter.
• Lloyds Banking Group reported a quarterly earnings per share of $0.14, exceeding the consensus estimate of $0.10, with actual revenue of $6.13 billion compared to expectations of $4.86 billion.
• The company announced a semi-annual dividend of $0.0655 per share, with a high yield of 370.0%, and a current dividend payout ratio of 32.50%.

Townsquare Capital LLC boosted its position in shares of Lloyds Banking Group PLC (NYSE:LYG - Free Report) by 4.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,596,132 shares of the financial services provider's stock after purchasing an additional 64,952 shares during the period. Townsquare Capital LLC's holdings in Lloyds Banking Group were worth $6,097,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Jackson Thornton Wealth Management LLC increased its holdings in Lloyds Banking Group by 20.4% during the 1st quarter. Jackson Thornton Wealth Management LLC now owns 15,168 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 2,573 shares in the last quarter. Perigon Wealth Management LLC increased its stake in shares of Lloyds Banking Group by 4.5% in the first quarter. Perigon Wealth Management LLC now owns 61,411 shares of the financial services provider's stock valued at $235,000 after buying an additional 2,617 shares in the last quarter. Mutual Advisors LLC lifted its position in Lloyds Banking Group by 27.2% during the 1st quarter. Mutual Advisors LLC now owns 12,916 shares of the financial services provider's stock worth $51,000 after buying an additional 2,758 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in Lloyds Banking Group by 22.1% during the 1st quarter. SBI Securities Co. Ltd. now owns 15,369 shares of the financial services provider's stock worth $59,000 after acquiring an additional 2,784 shares during the last quarter. Finally, Crumly & Associates Inc. increased its position in Lloyds Banking Group by 8.7% in the 1st quarter. Crumly & Associates Inc. now owns 36,162 shares of the financial services provider's stock valued at $138,000 after acquiring an additional 2,884 shares in the last quarter. Institutional investors and hedge funds own 2.15% of the company's stock.

Lloyds Banking Group Stock Performance

Shares of Lloyds Banking Group stock opened at $4.40 on Friday. Lloyds Banking Group PLC has a 52 week low of $2.56 and a 52 week high of $4.44. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.53 and a current ratio of 1.44. The stock has a market capitalization of $66.03 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 0.68 and a beta of 1.05. The firm has a fifty day moving average of $4.21 and a two-hundred day moving average of $3.84.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.04. The firm had revenue of $6.13 billion for the quarter, compared to analyst estimates of $4.86 billion. Lloyds Banking Group had a return on equity of 9.28% and a net margin of 17.51%. As a group, equities research analysts predict that Lloyds Banking Group PLC will post 0.27 EPS for the current year.

Lloyds Banking Group Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, September 19th. Shareholders of record on Monday, August 4th will be paid a $0.0655 dividend. This represents a yield of 370.0%. The ex-dividend date of this dividend is Monday, August 4th. Lloyds Banking Group's dividend payout ratio is presently 32.50%.

Analyst Ratings Changes

Several analysts have recently commented on LYG shares. Wall Street Zen raised shares of Lloyds Banking Group from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Morgan Stanley reiterated an "overweight" rating on shares of Lloyds Banking Group in a research report on Monday, August 4th. Royal Bank Of Canada upgraded Lloyds Banking Group from a "sector perform" rating to an "outperform" rating in a research report on Monday, August 4th. Keefe, Bruyette & Woods upgraded Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Finally, The Goldman Sachs Group raised Lloyds Banking Group from a "neutral" rating to a "buy" rating in a report on Tuesday, August 5th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy".

Lloyds Banking Group Company Profile

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom and internationally. It operates in three segments: Retail; Commercial Banking; and Insurance, Pensions and Investments. The Retail segment offers a range of financial service products, including current accounts, savings, mortgages, motor finance, unsecured loans, leasing solutions, and credit cards to personal customers.

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