Lloyds Banking Group (NYSE:LYG) Raised to Buy at The Goldman Sachs Group

Key Points

• Goldman Sachs Group has upgraded the stock rating of Lloyds Banking Group from "neutral" to "buy," indicating a positive outlook on the company's performance.
• Analyst consensus shows Lloyds Banking Group has a Moderate Buy rating, with the company recently reporting earnings that exceeded estimates, demonstrating strong revenue growth.
• Institutional investors have increased their stakes in Lloyds, with notable increases by firms like Goldman Sachs Group Inc. and Northern Trust Corp., highlighting growing confidence in the company's future.

The Goldman Sachs Group upgraded shares of Lloyds Banking Group (NYSE:LYG - Free Report) from a neutral rating to a buy rating in a research report report published on Tuesday morning, Marketbeat Ratings reports.

A number of other analysts have also recently commented on LYG. JPMorgan Chase & Co. upgraded shares of Lloyds Banking Group from an "underweight" rating to a "neutral" rating in a research note 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 research note on Monday. Wall Street Zen upgraded shares of Lloyds Banking Group from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Keefe, Bruyette & Woods upgraded shares of Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

Lloyds Banking Group Stock Performance

LYG traded up $0.02 during midday trading on Tuesday, reaching $4.35. The company had a trading volume of 11,628,907 shares, compared to its average volume of 10,683,332. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.53 and a current ratio of 1.44. The stock has a market cap of $65.20 billion, a PE ratio of 10.86, a P/E/G ratio of 0.67 and a beta of 1.05. Lloyds Banking Group has a 12-month low of $2.56 and a 12-month high of $4.44. The business has a 50-day moving average price of $4.20 and a two-hundred day moving average price of $3.83.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last released its earnings results 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 firm 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%. On average, sell-side analysts expect that Lloyds Banking Group will post 0.27 earnings per share for the current fiscal year.

Lloyds Banking Group Cuts Dividend

The company also recently announced 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 is 32.50%.

Institutional Trading of Lloyds Banking Group

A number of hedge funds and other institutional investors have recently bought and sold shares of LYG. Crux Wealth Advisors bought a new stake in Lloyds Banking Group during the 4th quarter worth approximately $28,000. V Square Quantitative Management LLC bought a new position in shares of Lloyds Banking Group in the 2nd quarter worth $29,000. Focus Partners Wealth bought a new position in shares of Lloyds Banking Group in the 4th quarter worth $31,000. Opal Wealth Advisors LLC bought a new position in shares of Lloyds Banking Group in the 2nd quarter worth $35,000. Finally, Advisor Resource Council bought a new position in shares of Lloyds Banking Group in the 1st quarter worth $37,000. Institutional investors 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.