Lloyds Banking Group (LON:LLOY) Sets New 1-Year High - What's Next?

Key Points

• Lloyds Banking Group reached a new 52-week high, trading as high as GBX 117.90 before closing near GBX 117.05, despite a reported 0.8% decline.
• Analyst sentiment is broadly positive, with six Buy ratings, three Holds and one Sell; however, the average price target of GBX 114.20 is below the current trading level.
• Lloyds reported quarterly earnings of GBX 4.80 per share, alongside a 26.73% net margin and 11.05% return on equity. Analysts expect full-year earnings of approximately GBX 7.32 per share.

Lloyds Banking Group plc (LON:LLOY - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 117.90 and last traded at GBX 117.05, with a volume of 198460156 shares. The stock had previously closed at GBX 116.60.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LLOY. Shore Capital Group reiterated a "sell" rating on shares of Lloyds Banking Group in a report on Thursday, April 30th. JPMorgan Chase & Co. reduced their price objective on shares of Lloyds Banking Group from GBX 171 to GBX 121 and set a "neutral" rating for the company in a research report on Monday, April 13th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a GBX 125 price objective on shares of Lloyds Banking Group in a research note on Friday, July 31st. Berenberg Bank reissued a "hold" rating and set a GBX 117 target price on shares of Lloyds Banking Group in a research report on Wednesday, June 24th. Finally, Jefferies Financial Group restated a "buy" rating and issued a GBX 125 target price on shares of Lloyds Banking Group in a research note on Friday, July 31st. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of GBX 114.20.

Lloyds Banking Group Trading Down 0.8%

The stock has a market capitalization of £67.53 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 1.84 and a beta of 0.91. The firm has a 50-day moving average price of GBX 108.43 and a 200-day moving average price of GBX 102.94.

Lloyds Banking Group (LON:LLOY - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported GBX 4.80 earnings per share for the quarter. Lloyds Banking Group had a net margin of 26.73% and a return on equity of 11.05%. Sell-side analysts expect that Lloyds Banking Group plc will post 7.3199528 earnings per share for the current fiscal year.

About Lloyds Banking Group

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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