Lloyds Banking Group (NYSE:LYG) Rating Increased to Buy at Wall Street Zen

Key Points

• Lloyds Banking Group has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, reflecting increased investor confidence in the stock.
• The company reported $0.14 EPS for the last quarter, exceeding expectations of $0.10, with a total revenue of $6.13 billion.
• Institutional investors currently hold 2.15% of Lloyds Banking Group's stock, indicating potential interest from large financial entities.

Wall Street Zen upgraded shares of Lloyds Banking Group (NYSE:LYG - Free Report) from a hold rating to a buy rating in a report issued on Saturday.

Several other research firms have also recently weighed in on LYG. HSBC raised shares of Lloyds Banking Group from a "hold" rating to a "buy" rating in a report on Tuesday, April 1st. Keefe, Bruyette & Woods upgraded shares of Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

Lloyds Banking Group Stock Up 2.3%

NYSE LYG traded up $0.10 on Friday, reaching $4.30. The company had a trading volume of 10,269,340 shares, compared to its average volume of 9,858,123. The firm has a market capitalization of $64.45 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 0.86 and a beta of 0.99. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.53 and a current ratio of 1.44. Lloyds Banking Group has a 1-year low of $2.56 and a 1-year high of $4.34. The company's fifty day moving average is $4.19 and its 200-day moving average is $3.76.

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 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.04. The company had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $4.86 billion. Lloyds Banking Group had a net margin of 17.51% and a return on equity of 9.28%. On average, research analysts forecast 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 paid a dividend of $0.0655 per share. This represents a yield of 3.7%. The ex-dividend date of this dividend is Monday, August 4th. Lloyds Banking Group's dividend payout ratio is presently 55.00%.

Institutional Investors Weigh In On Lloyds Banking Group

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