Lloyds Banking Group (NYSE:LYG) Rating Lowered to "Hold" at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods downgraded Lloyds Banking Group from “moderate buy” to “hold”, adding to a mixed analyst picture that still leaves the stock with an average Moderate Buy rating.
• The stock was down 0.9% and opened at $5.97; it trades near the middle of its 52-week range, with a high of $6.34 and a low of $4.05.
• Lloyds recently reported quarterly EPS of $0.13 on $6.87 billion in revenue, and analysts expect full-year EPS of about $0.53.

Lloyds Banking Group (NYSE:LYG - Get Free Report) was downgraded by stock analysts at Keefe, Bruyette & Woods from a "moderate buy" rating to a "hold" rating in a research note issued on Friday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Berenberg Bank initiated coverage on shares of Lloyds Banking Group in a research note on Wednesday, June 24th. They issued a "hold" rating for the company. Morgan Stanley restated an "overweight" rating on shares of Lloyds Banking Group in a research report on Tuesday, June 30th. UBS Group upgraded shares of Lloyds Banking Group from a "neutral" rating to a "buy" rating in a research report on Thursday, April 30th. Weiss Ratings cut Lloyds Banking Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, May 11th. Finally, Citigroup reissued a "buy" rating on shares of Lloyds Banking Group in a research report on Thursday. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Lloyds Banking Group has an average rating of "Moderate Buy".

Lloyds Banking Group Stock Down 0.9%

LYG stock opened at $5.97 on Friday. Lloyds Banking Group has a fifty-two week low of $4.05 and a fifty-two week high of $6.34. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $87.38 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 0.62 and a beta of 0.87. The business's fifty day moving average price is $5.59 and its two-hundred day moving average price is $5.50.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last announced its earnings results on Tuesday, March 31st. The financial services provider reported $0.13 earnings per share (EPS) for the quarter. Lloyds Banking Group had a net margin of 25.11% and a return on equity of 10.63%. The company had revenue of $6.87 billion during the quarter. On average, equities analysts anticipate that Lloyds Banking Group will post 0.53 earnings per share for the current year.

Hedge Funds Weigh In On Lloyds Banking Group

Several hedge funds have recently bought and sold shares of the company. WCM Investment Management LLC bought a new position in Lloyds Banking Group in the first quarter valued at about $128,228,000. Janney Montgomery Scott LLC grew its holdings in shares of Lloyds Banking Group by 2,413.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 3,113,464 shares of the financial services provider's stock valued at $15,661,000 after purchasing an additional 2,989,604 shares during the last quarter. UBS Group AG increased its position in Lloyds Banking Group by 53.9% during the 3rd quarter. UBS Group AG now owns 6,614,695 shares of the financial services provider's stock worth $30,031,000 after purchasing an additional 2,317,927 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Lloyds Banking Group by 386.4% in the 1st quarter. Renaissance Technologies LLC now owns 2,528,180 shares of the financial services provider's stock valued at $12,717,000 after purchasing an additional 2,008,380 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in shares of Lloyds Banking Group by 178.3% during the second quarter. Jane Street Group LLC now owns 2,261,115 shares of the financial services provider's stock worth $9,610,000 after buying an additional 1,448,691 shares during the last quarter. 2.15% of the stock is owned by institutional investors.

About Lloyds Banking Group

Lloyds Banking Group plc is a UK-based banking and financial services company that provides a broad range of retail, commercial and insurance products. Its principal consumer-facing brands include Lloyds Bank, Halifax and Bank of Scotland, through which it offers current accounts, savings, mortgages, credit cards and personal loans. The group also delivers services to small and medium-sized enterprises (SMEs) and larger corporate clients, supplying business accounts, lending, payments and cash-management solutions.

In addition to core banking, Lloyds operates a significant wealth and insurance arm under the Scottish Widows brand, offering life insurance, pensions, investment and retirement planning products.

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