Short Interest in Lloyds Banking Group PLC (NYSE:LYG) Declines 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) saw a large decline in short interest in 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 company's stock are sold short. Based on an average daily volume of 16,220,000 shares, the short-interest ratio is presently 0.3 days. Based on an average daily volume of 16,220,000 shares, the short-interest ratio is presently 0.3 days. Approximately0.0% of the company's stock are sold short.

Analyst Ratings Changes

A number of equities analysts recently issued reports on LYG shares. Wall Street Zen upgraded shares of Lloyds Banking Group from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. The Goldman Sachs Group upgraded shares of Lloyds Banking Group from a "neutral" rating to a "buy" rating in a research note on Tuesday, August 5th. Royal Bank Of Canada upgraded shares of Lloyds Banking Group from a "sector perform" rating to an "outperform" rating in a research note on Monday, August 4th. JPMorgan Chase & Co. upgraded shares of Lloyds Banking Group from an "underweight" rating to a "neutral" rating in a research note on Friday, August 1st. Finally, Keefe, Bruyette & Woods upgraded shares of Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. One research 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 company. According to MarketBeat.com, Lloyds Banking Group has a consensus rating of "Moderate Buy".

Institutional Investors Weigh In On Lloyds Banking Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LYG. Townsquare Capital LLC grew its holdings in Lloyds Banking Group by 4.2% during the 1st quarter. Townsquare Capital LLC now owns 1,596,132 shares of the financial services provider's stock valued at $6,097,000 after buying an additional 64,952 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in 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 worth $341,000 after purchasing an additional 68,064 shares during the last quarter. Northern Trust Corp increased its position in Lloyds Banking Group by 34.7% in the fourth quarter. Northern Trust Corp now owns 15,604,325 shares of the financial services provider's stock worth $42,444,000 after purchasing an additional 4,021,039 shares during the last quarter. Millennium Management LLC increased its position in Lloyds Banking Group by 225.0% in the fourth quarter. Millennium Management LLC now owns 7,098,940 shares of the financial services provider's stock worth $19,309,000 after purchasing an additional 4,914,680 shares during the last quarter. Finally, Perigon Wealth Management LLC increased its position in Lloyds Banking Group by 4.5% in the first quarter. Perigon Wealth Management LLC now owns 61,411 shares of the financial services provider's stock worth $235,000 after purchasing an additional 2,617 shares during the last quarter. 2.15% of the stock is owned by hedge funds and other institutional investors.

Lloyds Banking Group Stock Performance

Shares of NYSE:LYG traded up $0.0450 during trading on Friday, hitting $4.5950. The company's stock had a trading volume of 5,792,305 shares, compared to its average volume of 9,775,288. The company has a 50-day moving average of $4.27 and a 200-day moving average of $3.94. Lloyds Banking Group has a 12 month low of $2.56 and a 12 month high of $4.62. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.44 and a quick ratio of 0.53. The firm has a market cap of $68.77 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 0.70 and a beta of 1.05.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.04. Lloyds Banking Group had a net margin of 17.51% and a return on equity of 9.28%. The firm had revenue of $6.13 billion for the quarter, compared to analysts' expectations of $4.86 billion. On average, sell-side analysts expect that Lloyds Banking Group will post 0.27 earnings per share 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. Investors 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 currently 32.50%.

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.