Lloyds Banking Group (NYSE:LYG - Get Free Report) issued its quarterly earnings results on Thursday. The financial services provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.07), Zacks reports. The business had revenue of $6.56 billion during the quarter, compared to analyst estimates of $5.02 billion. Lloyds Banking Group had a net margin of 17.51% and a return on equity of 9.28%.
Lloyds Banking Group Stock Performance
LYG stock traded up $0.06 during trading on Friday, reaching $4.60. 3,212,602 shares of the stock were exchanged, compared to its average volume of 19,301,961. Lloyds Banking Group has a twelve month low of $2.56 and a twelve month high of $4.69. The company has a market capitalization of $68.10 billion, a P/E ratio of 11.49, a price-to-earnings-growth ratio of 0.63 and a beta of 1.02. The stock has a 50 day simple moving average of $4.49 and a 200-day simple moving average of $4.22. The company has a current ratio of 1.44, a quick ratio of 0.53 and a debt-to-equity ratio of 1.68.
Hedge Funds Weigh In On Lloyds Banking Group
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its position in shares of Lloyds Banking Group by 162.2% during the first quarter. Geneos Wealth Management Inc. now owns 11,724 shares of the financial services provider's stock worth $45,000 after purchasing an additional 7,253 shares in the last quarter. Brown Advisory Inc. acquired a new position in Lloyds Banking Group in the second quarter valued at approximately $66,000. B. Riley Wealth Advisors Inc. bought a new stake in Lloyds Banking Group in the second quarter valued at approximately $72,000. NewEdge Advisors LLC increased its stake in Lloyds Banking Group by 17.2% in the second quarter. NewEdge Advisors LLC now owns 19,168 shares of the financial services provider's stock valued at $81,000 after purchasing an additional 2,816 shares in the last quarter. Finally, Benjamin Edwards Inc. bought a new stake in Lloyds Banking Group in the second quarter valued at approximately $86,000. 2.15% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have weighed in on LYG shares. Zacks Research cut shares of Lloyds Banking Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 23rd. Wall Street Zen lowered shares of Lloyds Banking Group from a "buy" rating to a "hold" rating in a research note on Monday. Royal Bank Of Canada upgraded shares of Lloyds Banking Group from a "sector perform" rating to an "outperform" rating in a report on Monday, August 4th. Keefe, Bruyette & Woods upgraded shares of Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Finally, The Goldman Sachs Group upgraded shares of Lloyds Banking Group from a "neutral" rating to a "buy" rating in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Lloyds Banking Group currently has an average rating of "Moderate Buy".
Check Out Our Latest Analysis on LYG
Lloyds Banking Group Company Profile
(
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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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