Lloyds Banking Group (NYSE:LYG) Upgraded by JPMorgan Chase & Co. to Neutral Rating

Key Points

• JPMorgan Chase & Co. has upgraded Lloyds Banking Group from an "underweight" to a "neutral" rating, reflecting a more positive outlook on the stock.
• Shares of Lloyds Banking Group recently traded at $4.38, showing a 1-year performance range between $2.56 and $4.44.
• In its latest earnings report, the company beat consensus estimates with $0.14 EPS and revenue of $6.13 billion, exceeding expectations of $4.86 billion.

Lloyds Banking Group (NYSE:LYG - Get Free Report) was upgraded by equities research analysts at JPMorgan Chase & Co. from an "underweight" rating to a "neutral" rating in a research note issued on Friday.

LYG has been the topic of a number of other research reports. Wall Street Zen raised shares of Lloyds Banking Group from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Keefe, Bruyette & Woods raised Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy".

Lloyds Banking Group Stock Performance

Shares of LYG traded up $0.16 during midday trading on Friday, hitting $4.38. 27,268,807 shares of the stock traded hands, compared to its average volume of 24,360,234. Lloyds Banking Group has a 1-year low of $2.56 and a 1-year high of $4.44. The business's 50 day moving average price is $4.19 and its two-hundred day moving average price is $3.78. 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 firm has a market capitalization of $65.73 billion, a PE ratio of 10.95, a price-to-earnings-growth ratio of 0.67 and a beta of 0.99.

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 EPS for the quarter, beating the consensus estimate of $0.10 by $0.04. Lloyds Banking Group had a return on equity of 9.28% and a net margin of 17.51%. The company had revenue of $6.13 billion for the quarter, compared to the consensus estimate of $4.86 billion. Equities research analysts predict that Lloyds Banking Group will post 0.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Lloyds Banking Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LYG. Crux Wealth Advisors acquired a new stake in shares of Lloyds Banking Group during the 4th quarter valued at $28,000. V Square Quantitative Management LLC acquired a new position in shares of Lloyds Banking Group during the second quarter valued at about $29,000. Focus Partners Wealth acquired a new stake in shares of Lloyds Banking Group during the 4th quarter worth approximately $31,000. Opal Wealth Advisors LLC bought a new stake in Lloyds Banking Group in the 2nd quarter valued at $35,000. Finally, Advisor Resource Council acquired a new stake in Lloyds Banking Group during the first quarter valued at approximately $37,000. 2.15% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.