Lloyds Banking Group (NYSE:LYG) Upgraded to "Buy" at Kepler Capital Markets

Key Points

• Lloyds Banking Group has been upgraded from a "hold" to a "buy" rating by Kepler Capital Markets, reflecting a positive outlook from analysts.
• The company reported $0.14 earnings per share (EPS) for the last quarter, surpassing expectations of $0.10, and had a revenue of $6.13 billion compared to the estimated $4.86 billion.
• Institutional investors have significantly increased their holdings in Lloyds Banking Group, with Wealth Enhancement Advisory Services LLC raising its stake by 119.1%.

Lloyds Banking Group (NYSE:LYG - Get Free Report) was upgraded by investment analysts at Kepler Capital Markets from a "hold" rating to a "buy" rating in a research note issued on Thursday, MarketBeat.com reports.

Other equities analysts also recently issued reports about the company. Keefe, Bruyette & Woods upgraded Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Morgan Stanley reaffirmed an "overweight" rating on shares of Lloyds Banking Group in a research report on Monday, August 4th. JPMorgan Chase & Co. raised shares of Lloyds Banking Group from an "underweight" rating to a "neutral" rating in a research note on Friday, August 1st. Citigroup restated a "neutral" rating on shares of Lloyds Banking Group in a report on Monday, September 22nd. Finally, The Goldman Sachs Group raised Lloyds Banking Group from a "neutral" rating to a "buy" rating in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy".

Lloyds Banking Group Trading Down 2.4%

Lloyds Banking Group stock opened at $4.52 on Thursday. The stock has a market cap of $67.31 billion, a PE ratio of 11.33, a P/E/G ratio of 0.65 and a beta of 1.02. Lloyds Banking Group has a 52 week low of $2.56 and a 52 week high of $4.69. The company has a current ratio of 1.44, a quick ratio of 0.53 and a debt-to-equity ratio of 1.68. The stock has a 50-day moving average price of $4.47 and a 200 day moving average price of $4.17.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.04. The firm had revenue of $6.13 billion for the quarter, compared to analyst estimates of $4.86 billion. Lloyds Banking Group had a net margin of 17.51% and a return on equity of 9.28%. Equities research analysts predict that Lloyds Banking Group will post 0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Lloyds Banking Group by 119.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 125,225 shares of the financial services provider's stock valued at $341,000 after purchasing an additional 68,064 shares in the last quarter. GAMMA Investing LLC boosted its position in Lloyds Banking Group by 374.6% during the first quarter. GAMMA Investing LLC now owns 219,814 shares of the financial services provider's stock worth $840,000 after purchasing an additional 173,496 shares during the period. Merit Financial Group LLC grew its stake in Lloyds Banking Group by 70.0% in the 1st quarter. Merit Financial Group LLC now owns 19,574 shares of the financial services provider's stock valued at $75,000 after buying an additional 8,057 shares during the last quarter. Defined Wealth Management LLC boosted its stake in Lloyds Banking Group by 35.3% during the 1st quarter. Defined Wealth Management LLC now owns 17,343 shares of the financial services provider's stock valued at $66,000 after purchasing an additional 4,529 shares during the period. Finally, Tritonpoint Wealth LLC grew its stake in shares of Lloyds Banking Group by 26.8% in the first quarter. Tritonpoint Wealth LLC now owns 14,590 shares of the financial services provider's stock worth $56,000 after acquiring an additional 3,082 shares during the last quarter. 2.15% of the stock is owned by institutional investors and hedge funds.

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.

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