Short Interest in Lloyds Banking Group PLC (NYSE:LYG) Drops By 28.4%

Key Points

• Lloyds Banking Group PLC experienced a significant decrease in short interest, dropping by 28.4% in July, from 5,710,000 shares to 4,090,000 shares.
• The company reported $0.14 EPS for the quarter, exceeding the consensus estimate of $0.10, alongside a revenue of $6.13 billion, surpassing expectations of $4.86 billion.
• Lloyds recently announced a semi-annual dividend payout of $0.0655 per share with a yield of 370.0%, to be paid on September 19th.

Lloyds Banking Group PLC (NYSE:LYG - Get Free Report) was the target of a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 4,090,000 shares, adeclineof28.4% from the July 15th total of 5,710,000 shares. Approximately0.0% of the shares of the company are sold short. Based on an average daily volume of 16,220,000 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 16,220,000 shares, the days-to-cover ratio is currently 0.3 days. Approximately0.0% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wall Street Zen upgraded Lloyds Banking Group from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. JPMorgan Chase & Co. raised Lloyds Banking Group from an "underweight" rating to a "neutral" rating in a report on Friday, August 1st. Keefe, Bruyette & Woods raised Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. The Goldman Sachs Group raised Lloyds Banking Group from a "neutral" rating to a "buy" rating in a report on Tuesday, August 5th. Finally, Royal Bank Of Canada upgraded Lloyds Banking Group from a "sector perform" rating to an "outperform" rating in a research report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy".

Lloyds Banking Group Price Performance

LYG traded down $0.0150 on Monday, reaching $4.5850. The stock had a trading volume of 2,918,093 shares, compared to its average volume of 22,747,121. Lloyds Banking Group has a fifty-two week low of $2.56 and a fifty-two week high of $4.62. The firm has a 50-day moving average of $4.27 and a 200-day moving average of $3.95. 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 company has a market capitalization of $68.62 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 0.71 and a beta of 1.05.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last issued 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. Lloyds Banking Group had a return on equity of 9.28% and a net margin of 17.51%.The business had revenue of $6.13 billion during the quarter, compared to analysts' expectations of $4.86 billion. As a group, sell-side analysts anticipate that Lloyds Banking Group will post 0.27 EPS for the current year.

Lloyds Banking Group Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, September 19th. Shareholders of record on Monday, August 4th will be issued a $0.0655 dividend. This represents a yield of 370.0%. The ex-dividend date of this dividend is Monday, August 4th. Lloyds Banking Group's dividend payout ratio is presently 32.50%.

Hedge Funds Weigh In On Lloyds Banking Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Riversedge Advisors LLC increased its holdings in Lloyds Banking Group by 10.5% in the 2nd quarter. Riversedge Advisors LLC now owns 25,680 shares of the financial services provider's stock worth $109,000 after purchasing an additional 2,433 shares in the last quarter. Jackson Thornton Wealth Management LLC boosted its position in shares of Lloyds Banking Group by 20.4% during the 1st quarter. Jackson Thornton Wealth Management LLC now owns 15,168 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 2,573 shares in the last quarter. Drive Wealth Management LLC boosted its position in shares of Lloyds Banking Group by 6.8% during the 2nd quarter. Drive Wealth Management LLC now owns 41,065 shares of the financial services provider's stock valued at $175,000 after purchasing an additional 2,599 shares in the last quarter. Brighton Jones LLC boosted its position in shares of Lloyds Banking Group by 16.2% during the 2nd quarter. Brighton Jones LLC now owns 18,778 shares of the financial services provider's stock valued at $80,000 after purchasing an additional 2,613 shares in the last quarter. Finally, Perigon Wealth Management LLC boosted its position in shares of Lloyds Banking Group by 4.5% during the 1st quarter. Perigon Wealth Management LLC now owns 61,411 shares of the financial services provider's stock valued at $235,000 after purchasing an additional 2,617 shares in the last quarter. Institutional investors and hedge funds own 2.15% of the company's stock.

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.