Lloyds Banking Group (NYSE:LYG) Upgraded by Citigroup to Buy Rating

Key Points

• Citigroup upgraded Lloyds Banking Group from "neutral" to buy, and the stock carries an average analyst rating of Moderate Buy (seven Buy, three Hold).
• Shares rose about 1.4% to $5.63; the company has a market cap of $82.9 billion, a P/E of 13.39, a PEG of 0.52, and a 12‑month trading range of $3.49–$6.34.
• Lloyds beat quarterly EPS estimates ($0.12 vs. $0.11) but missed revenue ($6.38B vs. $6.52B), and analysts forecast roughly $0.27 in EPS for the current fiscal year.

Lloyds Banking Group (NYSE:LYG - Get Free Report) was upgraded by Citigroup from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Thursday,Benzinga reports.

Other analysts also recently issued research reports about the stock. BNP Paribas Exane downgraded shares of Lloyds Banking Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 10th. Weiss Ratings upgraded shares of Lloyds Banking Group from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, February 17th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Lloyds Banking Group in a research report on Tuesday, February 3rd. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy".

Lloyds Banking Group Stock Up 1.4%

Shares of NYSE:LYG traded up $0.08 during trading on Thursday, hitting $5.63. 8,762,737 shares of the company were exchanged, compared to its average volume of 19,893,408. The stock has a market capitalization of $82.88 billion, a P/E ratio of 13.39, a PEG ratio of 0.52 and a beta of 0.89. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.48 and a quick ratio of 1.48. Lloyds Banking Group has a 12-month low of $3.49 and a 12-month high of $6.34. The firm's 50 day moving average price is $5.45 and its 200-day moving average price is $5.13.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.01. The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.52 billion. Lloyds Banking Group had a net margin of 24.30% and a return on equity of 10.06%. On average, research analysts predict that Lloyds Banking Group will post 0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lloyds Banking Group

A number of large investors have recently bought and sold shares of LYG. True Wealth Design LLC purchased a new position in Lloyds Banking Group during the 3rd quarter worth $25,000. Salomon & Ludwin LLC raised its position in Lloyds Banking Group by 2,671.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 5,959 shares of the financial services provider's stock worth $27,000 after buying an additional 5,744 shares during the last quarter. Tucker Asset Management LLC purchased a new position in Lloyds Banking Group during the 4th quarter worth $27,000. Private Trust Co. NA raised its position in Lloyds Banking Group by 115.2% during the 3rd quarter. Private Trust Co. NA now owns 6,092 shares of the financial services provider's stock worth $28,000 after buying an additional 3,261 shares during the last quarter. Finally, Westside Investment Management Inc. raised its position in Lloyds Banking Group by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 6,406 shares of the financial services provider's stock worth $29,000 after buying an additional 3,203 shares during the last quarter. Hedge funds and other institutional investors own 2.15% of the company's stock.

Lloyds Banking Group Company Profile

Lloyds Banking Group plc is a UK-based banking and financial services company that provides a broad range of retail, commercial and insurance products. Its principal consumer-facing brands include Lloyds Bank, Halifax and Bank of Scotland, through which it offers current accounts, savings, mortgages, credit cards and personal loans. The group also delivers services to small and medium-sized enterprises (SMEs) and larger corporate clients, supplying business accounts, lending, payments and cash-management solutions.

In addition to core banking, Lloyds operates a significant wealth and insurance arm under the Scottish Widows brand, offering life insurance, pensions, investment and retirement planning products.

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