Lloyds Banking Group (NYSE:LYG) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Lloyds Banking Group (NYSE:LYG - Get Free Report) released its quarterly earnings results on Thursday. The financial services provider reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.03, Zacks reports. The firm had revenue of $5.91 billion during the quarter, compared to analysts' expectations of $4.78 billion. Lloyds Banking Group had a return on equity of 8.46% and a net margin of 11.45%.

Lloyds Banking Group Price Performance

Shares of LYG opened at $3.76 on Friday. The stock has a market capitalization of $56.89 billion, a PE ratio of 11.39 and a beta of 0.95. The business's fifty day moving average price is $3.73 and its 200 day moving average price is $3.18. Lloyds Banking Group has a 12-month low of $2.56 and a 12-month high of $4.00.

Lloyds Banking Group Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, April 11th will be issued a $0.1035 dividend. This represents a dividend yield of 4%. This is an increase from Lloyds Banking Group's previous semi-annual dividend of $0.05. The ex-dividend date of this dividend is Friday, April 11th. Lloyds Banking Group's payout ratio is 60.61%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LYG. Keefe, Bruyette & Woods lowered shares of Lloyds Banking Group from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 11th. HSBC raised Lloyds Banking Group from a "hold" rating to a "buy" rating in a research report on Tuesday, April 1st. Hsbc Global Res upgraded Lloyds Banking Group to a "strong-buy" rating in a research note on Thursday, March 20th. Finally, Morgan Stanley upgraded Lloyds Banking Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, March 4th. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy".

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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