Lloyds Banking Group (NYSE:LYG) Sets New 1-Year High - Here's Why

Key Points

• Lloyds Banking Group's stock reached a new 52-week high of $4.62 during trading, showing increased investor interest with a trading volume of 716,420 shares.
• Several Wall Street analysts have upgraded their ratings for Lloyds, with firms like Goldman Sachs and Keefe, Bruyette & Woods changing their outlook to "buy" or "moderate buy."
• The company reported strong quarterly earnings, posting $0.14 EPS against estimates of $0.10, with revenues significantly surpassing expectations at $6.13 billion.

Lloyds Banking Group PLC (NYSE:LYG - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $4.62 and last traded at $4.62, with a volume of 716420 shares traded. The stock had previously closed at $4.52.

Wall Street Analyst Weigh In

LYG has been the subject of several recent research reports. Keefe, Bruyette & Woods raised Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Wall Street Zen raised Lloyds Banking Group from a "hold" rating to a "buy" rating in a research report on Sunday, September 7th. The Goldman Sachs Group raised Lloyds Banking Group from a "neutral" rating to a "buy" rating in a research report on Tuesday, August 5th. JPMorgan Chase & Co. raised Lloyds Banking Group from an "underweight" rating to a "neutral" rating in a research report on Friday, August 1st. Finally, Morgan Stanley reissued an "overweight" rating on shares of Lloyds Banking Group in a research report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy".

Lloyds Banking Group Stock Performance

The company has a market capitalization of $69.14 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 0.66 and a beta of 1.05. The stock has a 50-day moving average price of $4.35 and a 200-day moving average price of $4.07. 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 released its quarterly earnings data 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. The company had revenue of $6.13 billion during the quarter, compared to analysts' expectations of $4.86 billion. Lloyds Banking Group had a return on equity of 9.28% and a net margin of 17.51%. As a group, analysts forecast that Lloyds Banking Group PLC will post 0.27 earnings per share for the current year.

Lloyds Banking Group Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Friday, September 19th. Investors of record on Monday, August 4th will be issued a dividend of $0.0655 per share. This represents a yield of 370.0%. The ex-dividend date of this dividend is Monday, August 4th. Lloyds Banking Group's dividend payout ratio (DPR) is presently 30.00%.

Institutional Trading of Lloyds Banking Group

Several hedge funds have recently added to or reduced their stakes in LYG. V Square Quantitative Management LLC acquired a new stake in Lloyds Banking Group during the 2nd quarter worth approximately $29,000. Focus Partners Wealth bought a new position in Lloyds Banking Group during the 4th quarter worth $31,000. Opal Wealth Advisors LLC bought a new position in Lloyds Banking Group during the 2nd quarter worth $35,000. Advisor Resource Council bought a new position in Lloyds Banking Group during the 1st quarter worth $37,000. Finally, Earned Wealth Advisors LLC bought a new position in Lloyds Banking Group during the 1st quarter worth $38,000. 2.15% of the stock is owned by institutional investors and hedge funds.

Lloyds Banking Group Company Profile

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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