Lloyds Banking Group (NYSE:LYG) Upgraded by Wall Street Zen to Buy Rating

Key Points

• Lloyds Banking Group was upgraded by Wall Street Zen from "hold" to buy, and several other firms (Weiss, UBS, Citigroup, Deutsche Bank) have similarly upgraded or reiterated buys, leaving the consensus at eight Buy ratings and three Hold ratings with an average rating of Moderate Buy.
• The bank reported $0.13 earnings per share for the quarter on $6.87 billion of revenue, with a return on equity of 10.63% and a net margin of 25.11%, and analysts project about $0.55 EPS for the current year.
• Shares trade near $5.37 (50-day MA $5.33, 200-day MA $5.24) with a 12-month range of $3.74–$6.34, a market capitalization of roughly $79.1 billion and a PE ratio of 12.19.

Lloyds Banking Group (NYSE:LYG - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

Several other equities analysts also recently weighed in on LYG. Citigroup reiterated a "buy" rating on shares of Lloyds Banking Group in a research report on Thursday. Weiss Ratings upgraded Lloyds Banking Group from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Lloyds Banking Group in a research report on Tuesday, February 3rd. Finally, UBS Group upgraded Lloyds Banking Group from a "neutral" rating to a "buy" rating in a research report on Thursday. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Lloyds Banking Group presently has an average rating of "Moderate Buy".

Lloyds Banking Group Stock Performance

NYSE LYG opened at $5.37 on Friday. The business's 50-day moving average price is $5.33 and its 200 day moving average price is $5.24. Lloyds Banking Group has a twelve month low of $3.74 and a twelve month high of $6.34. The company has a market capitalization of $79.05 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 0.57 and a beta of 0.88. The company has a current ratio of 0.56, a quick ratio of 1.48 and a debt-to-equity ratio of 2.09.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last released its earnings results on Tuesday, March 31st. The financial services provider reported $0.13 earnings per share for the quarter. Lloyds Banking Group had a return on equity of 10.63% and a net margin of 25.11%.The firm had revenue of $6.87 billion for the quarter. On average, research analysts predict that Lloyds Banking Group will post 0.55 earnings per share for the current year.

Hedge Funds Weigh In On Lloyds Banking Group

A number of large investors have recently modified their holdings of the company. Papamarkou Wellner Asset Management inc. raised its holdings in shares of Lloyds Banking Group by 2.0% in the 4th quarter. Papamarkou Wellner Asset Management inc. now owns 104,100 shares of the financial services provider's stock worth $552,000 after purchasing an additional 2,000 shares during the period. Aptus Capital Advisors LLC raised its holdings in shares of Lloyds Banking Group by 11.9% in the 4th quarter. Aptus Capital Advisors LLC now owns 18,869 shares of the financial services provider's stock worth $100,000 after purchasing an additional 2,009 shares during the period. Mesirow Financial Investment Management Inc. raised its holdings in shares of Lloyds Banking Group by 7.7% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 28,561 shares of the financial services provider's stock worth $130,000 after purchasing an additional 2,040 shares during the period. Harbour Investments Inc. raised its holdings in shares of Lloyds Banking Group by 47.3% in the 4th quarter. Harbour Investments Inc. now owns 6,386 shares of the financial services provider's stock worth $34,000 after purchasing an additional 2,051 shares during the period. Finally, Xponance LLC raised its holdings in shares of Lloyds Banking Group by 11.9% in the 4th quarter. Xponance LLC now owns 20,138 shares of the financial services provider's stock worth $107,000 after purchasing an additional 2,146 shares during the period. 2.15% of the stock is currently owned by hedge funds and other institutional investors.

About Lloyds Banking Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.