Lloyds Banking Group (NYSE:LYG) Sets New 12-Month High - Time to Buy?

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) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $4.62 and last traded at $4.62, with a volume of 716420 shares changing hands. The stock had previously closed at $4.52.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upgraded Lloyds Banking Group from an "underweight" rating to a "neutral" rating in a research note on Friday, August 1st. Keefe, Bruyette & Woods upgraded Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. The Goldman Sachs Group upgraded Lloyds Banking Group from a "neutral" rating to a "buy" rating in a research note on Tuesday, August 5th. Royal Bank Of Canada upgraded Lloyds Banking Group from a "sector perform" rating to an "outperform" rating in a research note on Monday, August 4th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Lloyds Banking Group in a research note on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy".

Lloyds Banking Group Stock Down 2.6%

The firm has a market capitalization of $66.46 billion, a price-to-earnings ratio of 11.15, a P/E/G ratio of 0.67 and a beta of 1.05. The stock has a fifty day moving average of $4.39 and a two-hundred day moving average of $4.09. 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 posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.04. The business had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $4.86 billion. Lloyds Banking Group had a return on equity of 9.28% and a net margin of 17.51%. Sell-side analysts anticipate that Lloyds Banking Group PLC will post 0.27 earnings per share for the current year.

Lloyds Banking Group Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, September 19th. Shareholders 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 is Monday, August 4th. Lloyds Banking Group's dividend payout ratio (DPR) is presently 32.50%.

Institutional Trading of Lloyds Banking Group

A number of large investors have recently bought and sold shares of LYG. Riversedge Advisors LLC raised its holdings in Lloyds Banking Group by 10.5% during the 2nd quarter. Riversedge Advisors LLC now owns 25,680 shares of the financial services provider's stock valued at $109,000 after acquiring an additional 2,433 shares during the period. Jackson Thornton Wealth Management LLC grew its position in Lloyds Banking Group by 20.4% in the first quarter. Jackson Thornton Wealth Management LLC now owns 15,168 shares of the financial services provider's stock worth $57,000 after acquiring an additional 2,573 shares in the last quarter. Drive Wealth Management LLC grew its position in Lloyds Banking Group by 6.8% in the second quarter. Drive Wealth Management LLC now owns 41,065 shares of the financial services provider's stock worth $175,000 after acquiring an additional 2,599 shares in the last quarter. Brighton Jones LLC grew its stake in shares of Lloyds Banking Group by 16.2% during the second quarter. Brighton Jones LLC now owns 18,778 shares of the financial services provider's stock valued at $80,000 after buying an additional 2,613 shares during the last quarter. Finally, Perigon Wealth Management LLC grew its stake in shares of Lloyds Banking Group by 4.5% during the first quarter. Perigon Wealth Management LLC now owns 61,411 shares of the financial services provider's stock valued at $235,000 after buying an additional 2,617 shares during the last quarter. 2.15% of the stock is currently owned by institutional investors and hedge funds.

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.