Lloyds Banking Group (LON:LLOY) Shares Pass Above 200 Day Moving Average - Here's What Happened

Lloyds Banking Group plc (LON:LLOY - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 66.64 ($0.90) and traded as high as GBX 76.66 ($1.03). Lloyds Banking Group shares last traded at GBX 75.96 ($1.02), with a volume of 43,289,852 shares.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Lloyds Banking Group from GBX 62 ($0.83) to GBX 71 ($0.96) and gave the stock an "underweight" rating in a research report on Tuesday, March 25th. Shore Capital restated a "hold" rating on shares of Lloyds Banking Group in a research report on Thursday, May 1st. Finally, Citigroup upped their price objective on shares of Lloyds Banking Group from GBX 61 ($0.82) to GBX 71 ($0.96) and gave the company a "buy" rating in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of GBX 64.25 ($0.87).

Lloyds Banking Group Price Performance

The firm has a market capitalization of £45.82 billion, a price-to-earnings ratio of 9.56, a price-to-earnings-growth ratio of 1.84 and a beta of 1.23. The business has a 50 day moving average of GBX 74.35 and a 200 day moving average of GBX 66.64.

Lloyds Banking Group (LON:LLOY - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The financial services provider reported GBX 1.70 ($0.02) earnings per share for the quarter. Lloyds Banking Group had a return on equity of 11.22% and a net margin of 16.66%. On average, sell-side analysts forecast that Lloyds Banking Group plc will post 7.3199528 EPS for the current fiscal year.

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.