Townsquare Capital LLC Acquires 64,952 Shares of 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 raised its holdings in Lloyds Banking Group PLC (NYSE:LYG - Free Report) by 4.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,596,132 shares of the financial services provider's stock after purchasing an additional 64,952 shares during the quarter. Townsquare Capital LLC's holdings in Lloyds Banking Group were worth $6,097,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Crux Wealth Advisors bought a new position in Lloyds Banking Group during the 4th quarter worth $28,000. Focus Partners Wealth bought a new position in Lloyds Banking Group during the 4th quarter worth $31,000. Advisor Resource Council bought a new position in Lloyds Banking Group during the 1st quarter worth $37,000. Earned Wealth Advisors LLC bought a new position in Lloyds Banking Group during the 1st quarter worth $38,000. Finally, SYM FINANCIAL Corp bought a new position in shares of Lloyds Banking Group in the 1st quarter worth about $40,000. Institutional investors and hedge funds own 2.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Royal Bank Of Canada raised 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 research note on Thursday, July 17th. Wall Street Zen upgraded Lloyds Banking Group from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. JPMorgan Chase & Co. upgraded Lloyds Banking Group from an "underweight" rating to a "neutral" rating in a research note on Friday, August 1st. Finally, Morgan Stanley restated an "overweight" rating on shares of Lloyds Banking Group in a research note on Monday, August 4th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Lloyds Banking Group has a consensus rating of "Moderate Buy".

Lloyds Banking Group Trading Down 0.1%

Shares of Lloyds Banking Group stock traded down $0.01 during trading on Thursday, reaching $4.55. 3,387,515 shares of the stock were exchanged, compared to its average volume of 23,465,264. The company has a quick ratio of 0.53, a current ratio of 1.44 and a debt-to-equity ratio of 1.68. The stock's fifty day moving average is $4.22 and its 200 day moving average is $3.87. The firm has a market cap of $68.20 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 0.70 and a beta of 1.05. Lloyds Banking Group PLC has a 1 year low of $2.56 and a 1 year high of $4.58.

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

Lloyds Banking Group Cuts Dividend

The firm 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 dividend of $0.0655 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a dividend yield of 370.0%. Lloyds Banking Group's dividend payout ratio (DPR) is currently 30.00%.

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.