Lloyds Banking Group PLC (NYSE:LYG) Short Interest Down 58.2% in April

Key Points

• Short interest down 58.2% in April to 3,379,433 shares as of April 15, leaving a days‑to‑cover ratio of 0.2 and effectively 0.0% of shares short sold.
• The firm declared a dividend of $0.134 per share (ex‑dividend April 10, payable May 29), reported in the article as a 490.0% yield with a 61.9% payout ratio.
• LYG traded at $5.34 with a $78.6 billion market cap and a P/E of 12.7, and analysts' consensus is a Moderate Buy after several recent upgrades (7 Buys, 3 Holds).

Lloyds Banking Group PLC (NYSE:LYG - Get Free Report) saw a significant decline in short interest during the month of April. As of April 15th, there was short interest totaling 3,379,433 shares, a decline of 58.2% from the March 31st total of 8,093,963 shares. Based on an average daily trading volume, of 21,249,314 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.0% of the shares of the company are short sold.

Lloyds Banking Group Price Performance

LYG stock traded up $0.01 on Friday, reaching $5.34. 17,089,989 shares of the company's stock were exchanged, compared to its average volume of 20,395,308. The stock has a fifty day moving average of $5.35 and a 200-day moving average of $5.22. Lloyds Banking Group has a twelve month low of $3.74 and a twelve month high of $6.34. The firm has a market cap of $78.60 billion, a PE ratio of 12.70, a P/E/G ratio of 0.58 and a beta of 0.89. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.84.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.01. Lloyds Banking Group had a return on equity of 10.06% and a net margin of 24.30%.The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.52 billion. As a group, equities analysts predict that Lloyds Banking Group will post 0.53 EPS for the current fiscal year.

Lloyds Banking Group Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Friday, May 29th. Investors of record on Friday, April 10th will be issued a dividend of $0.134 per share. This represents a yield of 490.0%. The ex-dividend date of this dividend is Friday, April 10th. Lloyds Banking Group's dividend payout ratio is currently 61.90%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Papamarkou Wellner Asset Management inc. grew its holdings in Lloyds Banking Group by 2.0% during the fourth quarter. Papamarkou Wellner Asset Management inc. now owns 104,100 shares of the financial services provider's stock worth $552,000 after acquiring an additional 2,000 shares during the period. Aptus Capital Advisors LLC grew its holdings in Lloyds Banking Group by 11.9% during the fourth quarter. Aptus Capital Advisors LLC now owns 18,869 shares of the financial services provider's stock worth $100,000 after acquiring an additional 2,009 shares during the period. Mesirow Financial Investment Management Inc. grew its holdings in Lloyds Banking Group by 7.7% during the third quarter. Mesirow Financial Investment Management Inc. now owns 28,561 shares of the financial services provider's stock worth $130,000 after acquiring an additional 2,040 shares during the period. Harbour Investments Inc. grew its holdings in Lloyds Banking Group by 47.3% during the fourth quarter. Harbour Investments Inc. now owns 6,386 shares of the financial services provider's stock worth $34,000 after acquiring an additional 2,051 shares during the period. Finally, Xponance LLC grew its holdings in Lloyds Banking Group by 11.9% in the fourth quarter. Xponance LLC now owns 20,138 shares of the financial services provider's stock valued at $107,000 after purchasing an additional 2,146 shares during the last quarter. Institutional investors and hedge funds own 2.15% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on LYG shares. Weiss Ratings upgraded Lloyds Banking Group from a "hold (c)" rating to a "buy (b-)" rating in a research note on Tuesday, February 17th. Citigroup raised Lloyds Banking Group from a "neutral" rating to a "buy" rating in a report on Thursday, April 9th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Lloyds Banking Group in a report on Tuesday, February 3rd. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy".

Lloyds Banking Group Company Profile

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.

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