Lloyds Banking Group (NYSE:LYG) Rating Lowered to Hold (C+) at Weiss Ratings

Key Points

• Lloyds Banking Group has been downgraded by Weiss Ratings from a "buy (b-)" to a "hold (c+)" rating, indicating a cautious outlook on the stock.
• Despite the recent downgrade, other analysts have upgraded the stock's rating, with the average rating now at "Moderate Buy".
• The company's latest quarterly earnings showed a net margin of 17.51% and a revenue of $6.13 billion, exceeding analyst estimates.

Lloyds Banking Group (NYSE:LYG - Get Free Report) was downgraded by analysts at Weiss Ratings from a "buy (b-)" rating to a "hold (c+)" rating in a report released on Wednesday,Weiss Ratings reports.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. upgraded shares of Lloyds Banking Group from an "underweight" rating to a "neutral" rating in a report on Friday, August 1st. 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. Wall Street Zen lowered shares of Lloyds Banking Group from a "buy" rating to a "hold" rating in a report on Saturday, October 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 research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Lloyds Banking Group has an average rating of "Moderate Buy".

Lloyds Banking Group Price Performance

Lloyds Banking Group stock opened at $4.64 on Wednesday. Lloyds Banking Group has a 12-month low of $2.56 and a 12-month high of $4.69. The stock has a market capitalization of $69.14 billion, a P/E ratio of 11.60, a P/E/G ratio of 0.65 and a beta of 1.02. The firm's 50-day moving average is $4.47 and its two-hundred day moving average is $4.17. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.44 and a quick ratio of 0.53.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.04. The business had revenue of $6.13 billion for the quarter, compared to analyst estimates of $4.86 billion. Lloyds Banking Group had a net margin of 17.51% and a return on equity of 9.28%. Equities analysts predict that Lloyds Banking Group will post 0.27 earnings per share for the current year.

Institutional Trading of Lloyds Banking Group

A number of hedge funds have recently made changes to their positions in the stock. HF Advisory Group LLC boosted its holdings in Lloyds Banking Group by 4.5% in the third quarter. HF Advisory Group LLC now owns 401,704 shares of the financial services provider's stock worth $1,824,000 after purchasing an additional 17,337 shares during the period. GAMMA Investing LLC boosted its holdings in Lloyds Banking Group by 6.6% in the third quarter. GAMMA Investing LLC now owns 76,139 shares of the financial services provider's stock worth $346,000 after purchasing an additional 4,735 shares during the period. Valeo Financial Advisors LLC boosted its holdings in Lloyds Banking Group by 5.9% in the second quarter. Valeo Financial Advisors LLC now owns 60,214 shares of the financial services provider's stock worth $256,000 after purchasing an additional 3,342 shares during the period. Osaic Holdings Inc. boosted its holdings in Lloyds Banking Group by 34.2% in the second quarter. Osaic Holdings Inc. now owns 172,709 shares of the financial services provider's stock worth $717,000 after purchasing an additional 44,047 shares during the period. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Lloyds Banking Group in the second quarter worth $72,000. Institutional investors and hedge funds own 2.15% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.