Lloyds Banking Group (NYSE:LYG) Cut to Hold at Zacks Research

Key Points

• Lloyds Banking Group has been downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating, amid mixed reactions from other analysts who have varying upgrades for the company.
• The company's stock opened at $4.47, with a market capitalization of $66.53 billion, a P/E ratio of 11.16, and a significant 12-month price range from $2.56 to $4.63.
• Recently, institutional investors have increased their holdings in Lloyds Banking Group, highlighting a growing interest, with some investors making significant percentage increases in their stakes.

Lloyds Banking Group (NYSE:LYG - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other research analysts have also recently issued reports on LYG. Keefe, Bruyette & Woods raised Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Royal Bank Of Canada upgraded Lloyds Banking Group from a "sector perform" rating to an "outperform" rating in a research report on Monday, August 4th. JPMorgan Chase & Co. upgraded Lloyds Banking Group from an "underweight" rating to a "neutral" rating in a research report on Friday, August 1st. Wall Street Zen upgraded Lloyds Banking Group from a "hold" rating to a "buy" rating in a research report on Sunday, September 7th. Finally, Citigroup reiterated a "neutral" rating on shares of Lloyds Banking Group in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy".

Lloyds Banking Group Stock Performance

Lloyds Banking Group stock opened at $4.47 on Tuesday. The stock has a 50-day simple moving average of $4.42 and a 200 day simple moving average of $4.11. The company has a quick ratio of 0.53, a current ratio of 1.44 and a debt-to-equity ratio of 1.68. Lloyds Banking Group has a 12-month low of $2.56 and a 12-month high of $4.63. The stock has a market capitalization of $66.53 billion, a price-to-earnings ratio of 11.16, a P/E/G ratio of 0.65 and a beta of 1.05.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.04. Lloyds Banking Group had a return on equity of 9.28% and a net margin of 17.51%.The business had revenue of $6.13 billion during the quarter, compared to analysts' expectations of $4.86 billion. On average, research analysts anticipate that Lloyds Banking Group will post 0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lloyds Banking Group

Institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its stake in Lloyds Banking Group by 119.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 125,225 shares of the financial services provider's stock worth $341,000 after purchasing an additional 68,064 shares in the last quarter. Marcum Wealth LLC increased its stake in Lloyds Banking Group by 13.2% during the 1st quarter. Marcum Wealth LLC now owns 85,341 shares of the financial services provider's stock worth $326,000 after purchasing an additional 9,951 shares in the last quarter. Moody National Bank Trust Division bought a new stake in Lloyds Banking Group during the 1st quarter worth approximately $43,000. GAMMA Investing LLC boosted its position in Lloyds Banking Group by 374.6% during the 1st quarter. GAMMA Investing LLC now owns 219,814 shares of the financial services provider's stock worth $840,000 after acquiring an additional 173,496 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in Lloyds Banking Group by 32.9% during the 1st quarter. Parallel Advisors LLC now owns 56,101 shares of the financial services provider's stock worth $214,000 after acquiring an additional 13,886 shares during the last quarter. 2.15% of the stock is currently owned by institutional investors and hedge funds.

About Lloyds Banking Group

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.

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