Lloyds Banking Group (NYSE:LYG) Sets New 1-Year High - Should You Buy?

Key Points

• Lloyds Banking Group reached a new 52-week high at $4.63 with a trading volume of over 7.6 million shares, reflecting strong investor interest.
• Recent analyst ratings show divergent opinions: Citigroup maintains a "neutral" rating, while Goldman Sachs upgraded it to "buy," indicating varied perspectives on the stock's potential.
• Despite reporting stronger-than-expected earnings of $0.14 per share, Lloyds Banking Group recently announced a semi-annual dividend cut, with a yield of 370% paid on September 19th, emphasizing financial restructuring challenges.

Lloyds Banking Group PLC (NYSE:LYG - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $4.63 and last traded at $4.63, with a volume of 7691782 shares. The stock had previously closed at $4.58.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Citigroup reaffirmed a "neutral" rating on shares of Lloyds Banking Group in a report on Monday, September 22nd. The Goldman Sachs Group raised shares of Lloyds Banking Group from a "neutral" rating to a "buy" rating in a report on Tuesday, August 5th. JPMorgan Chase & Co. raised shares of Lloyds Banking Group from an "underweight" rating to a "neutral" rating in a report on Friday, August 1st. Weiss Ratings reissued a "buy (b-)" rating on shares of Lloyds Banking Group in a report on Saturday, September 27th. Finally, Wall Street Zen lowered shares of Lloyds Banking Group from a "buy" rating to a "hold" rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy".

Lloyds Banking Group Trading Down 0.5%

The business's 50-day moving average price is $4.46 and its two-hundred day moving average price is $4.16. The company has a market capitalization of $67.87 billion, a P/E ratio of 11.39, a PEG ratio of 0.66 and a beta of 1.02. 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 results on Thursday, July 24th. The financial services provider reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.04. The company had revenue of $6.13 billion for the quarter, compared to analysts' expectations of $4.86 billion. Lloyds Banking Group had a net margin of 17.51% and a return on equity of 9.28%. As a group, analysts forecast that Lloyds Banking Group PLC will post 0.27 EPS for the current fiscal year.

Lloyds Banking Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, September 19th. Investors of record on Monday, August 4th were given a $0.0655 dividend. This represents a yield of 370.0%. The ex-dividend date of this dividend was Monday, August 4th. Lloyds Banking Group's payout ratio is currently 32.50%.

Institutional Investors Weigh In On Lloyds Banking Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in LYG. Wealth Enhancement Advisory Services LLC lifted its position in Lloyds Banking Group by 119.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 125,225 shares of the financial services provider's stock worth $341,000 after buying an additional 68,064 shares in the last quarter. GAMMA Investing LLC lifted its position in Lloyds Banking Group by 374.6% during the 1st quarter. GAMMA Investing LLC now owns 219,814 shares of the financial services provider's stock worth $840,000 after buying an additional 173,496 shares in the last quarter. Merit Financial Group LLC lifted its position in Lloyds Banking Group by 70.0% during the 1st quarter. Merit Financial Group LLC now owns 19,574 shares of the financial services provider's stock worth $75,000 after buying an additional 8,057 shares in the last quarter. Procyon Advisors LLC lifted its position in Lloyds Banking Group by 38.1% during the 1st quarter. Procyon Advisors LLC now owns 42,042 shares of the financial services provider's stock worth $161,000 after buying an additional 11,588 shares in the last quarter. Finally, Sivia Capital Partners LLC lifted its position in Lloyds Banking Group by 15.4% during the 1st quarter. Sivia Capital Partners LLC now owns 77,154 shares of the financial services provider's stock worth $295,000 after buying an additional 10,318 shares in the last quarter. 2.15% of the stock is owned by institutional investors.

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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