JPMorgan Chase & Co. Issues Positive Forecast for Lloyds Banking Group (LON:LLOY) Stock Price

Key Points

• JPMorgan Chase & Co. has increased its price target for Lloyds Banking Group from GBX 85 to GBX 98, indicating a potential upside of 20.93% from the current price.
• The stock currently holds an average rating of "Hold" among analysts with a consensus price target of GBX 89.40, reflecting mixed sentiments regarding its performance.
• Insider purchases at Lloyds reveal confidence in the company, with significant shares bought by executives, totaling 471,274 shares valued over £36 million in the last 90 days.

Lloyds Banking Group (LON:LLOY - Get Free Report) had its price target lifted by analysts at JPMorgan Chase & Co. from GBX 85 to GBX 98 in a research note issued to investors on Tuesday,Digital Look reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 20.93% from the stock's current price.

A number of other analysts have also recently issued reports on LLOY. Citigroup increased their price objective on Lloyds Banking Group from GBX 75 to GBX 77 and gave the stock a "neutral" rating in a report on Friday, August 1st. Shore Capital reissued a "hold" rating and set a GBX 74 price objective on shares of Lloyds Banking Group in a research note on Thursday, July 24th. Royal Bank Of Canada raised Lloyds Banking Group to an "outperform" rating and set a GBX 95 price objective for the company in a research note on Monday, August 4th. Finally, Jefferies Financial Group lifted their price objective on Lloyds Banking Group from GBX 92 to GBX 103 and gave the company a "buy" rating in a research note on Tuesday, August 26th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of GBX 89.40.

Lloyds Banking Group Stock Performance

Shares of LLOY opened at GBX 81.04 on Tuesday. The stock's 50-day simple moving average is GBX 79.48 and its 200 day simple moving average is GBX 75.13. The stock has a market capitalization of £48.08 billion, a price-to-earnings ratio of 1,227.88, a price-to-earnings-growth ratio of 1.84 and a beta of 1.23. Lloyds Banking Group has a 52-week low of GBX 52.44 and a 52-week high of GBX 84.60.

Lloyds Banking Group (LON:LLOY - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported GBX 3.80 earnings per share (EPS) for the quarter. Lloyds Banking Group had a return on equity of 11.22% and a net margin of 16.66%. On average, research 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 news, insider Charlie Nunn bought 238,593 shares of Lloyds Banking Group stock in a transaction that occurred on Friday, June 20th. The shares were acquired at an average price of GBX 76 per share, with a total value of £181,330.68. Also, insider William Chalmers bought 152,181 shares of Lloyds Banking Group stock in a transaction that occurred on Friday, June 20th. The stock was purchased at an average cost of GBX 76 per share, for a total transaction of £115,657.56. Insiders have bought a total of 471,274 shares of company stock valued at $36,338,824 over the last 90 days. 0.16% of the stock is owned by insiders.

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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