Lloyds Banking Group (LON:LLOY) Share Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• Lloyds Banking Group shares moved above their 200-day moving average, reaching GBX 111.50 and closing at GBX 111.25, up 1.4% with trading volume exceeding 91 million shares.
• Analyst sentiment is broadly positive: six analysts rate the stock a Buy, three Hold and one Sell, producing a “Moderate Buy” consensus and an average price target of GBX 114.20.
• The bank reported quarterly earnings of GBX 4.80 per share, with an 11.05% return on equity and a 26.73% net margin; analysts expect full-year earnings of roughly GBX 7.32 per share.

Lloyds Banking Group plc (LON:LLOY - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 103.88 and traded as high as GBX 111.50. Lloyds Banking Group shares last traded at GBX 111.25, with a volume of 91,039,859 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LLOY. Shore Capital Group reaffirmed a "sell" rating on shares of Lloyds Banking Group in a report on Thursday, April 30th. Citigroup raised their target price on Lloyds Banking Group from GBX 114 to GBX 123 and gave the company a "buy" rating in a report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a GBX 125 target price on shares of Lloyds Banking Group in a research report on Friday, July 31st. Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 125 price target on shares of Lloyds Banking Group in a research note on Friday, July 31st. Finally, Royal Bank Of Canada increased their price target on shares of Lloyds Banking Group from GBX 120 to GBX 124 and gave the company an "outperform" rating in a report on Friday, July 31st. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Lloyds Banking Group has an average rating of "Moderate Buy" and an average target price of GBX 114.20.

Lloyds Banking Group Trading Up 1.4%

The company has a 50 day moving average price of GBX 112.05 and a 200 day moving average price of GBX 103.88. The firm has a market cap of £64.59 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 1.84 and a beta of 0.91.

Lloyds Banking Group (LON:LLOY - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported GBX 4.80 earnings per share for the quarter. Lloyds Banking Group had a return on equity of 11.05% and a net margin of 26.73%. As a group, equities research analysts anticipate 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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