Lloyds Banking Group PLC (NYSE:LYG) Short Interest Up 47.7% in August

Key Points

• Lloyds Banking Group's short interest increased by 47.7% in August, with 6,040,000 shares shorted as of August 15th, compared to 4,090,000 at the end of July.
• Despite a recent stock price decrease of 0.8% reaching $4.35, analysts have upgraded the company's ratings, with a consensus rating of "Buy" from several investment firms.
• The company reported earnings of $0.14 per share for the last quarter, surpassing expectations, and announced a semi-annual dividend of $0.0655, representing a yield of 370.0%.

Lloyds Banking Group PLC (NYSE:LYG - Get Free Report) was the target of a significant increase in short interest in August. As of August 15th, there was short interest totaling 6,040,000 shares, anincreaseof47.7% from the July 31st total of 4,090,000 shares. Currently,0.0% of the company's stock are short sold. Based on an average daily volume of 12,020,000 shares, the days-to-cover ratio is presently 0.5 days. Based on an average daily volume of 12,020,000 shares, the days-to-cover ratio is presently 0.5 days. Currently,0.0% of the company's stock are short sold.

Lloyds Banking Group Stock Down 0.8%

Shares of LYG traded down $0.04 during midday trading on Friday, reaching $4.35. 11,651,059 shares of the stock were exchanged, compared to its average volume of 7,159,971. Lloyds Banking Group has a 52 week low of $2.56 and a 52 week high of $4.62. 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's 50 day moving average is $4.32 and its two-hundred day moving average is $4.04. The company has a market capitalization of $65.03 billion, a P/E ratio of 10.86, a PEG ratio of 0.67 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, beating 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 company had revenue of $6.13 billion for the quarter, compared to the consensus estimate of $4.86 billion. On average, sell-side analysts anticipate that Lloyds Banking Group will post 0.27 earnings per share for the current year.

Lloyds Banking Group Cuts Dividend

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

Institutional Investors Weigh In On Lloyds Banking Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LYG. V Square Quantitative Management LLC purchased a new position in shares of Lloyds Banking Group in the second quarter worth about $29,000. Focus Partners Wealth purchased a new stake in shares of Lloyds Banking Group in the fourth quarter valued at approximately $31,000. Opal Wealth Advisors LLC purchased a new stake in shares of Lloyds Banking Group in the second quarter valued at approximately $35,000. Advisor Resource Council acquired a new stake in shares of Lloyds Banking Group in the first quarter worth approximately $37,000. Finally, Earned Wealth Advisors LLC acquired a new stake in shares of Lloyds Banking Group in the first quarter worth approximately $38,000. 2.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada upgraded Lloyds Banking Group from a "sector perform" rating to an "outperform" rating in a report on Monday, August 4th. The Goldman Sachs Group raised Lloyds Banking Group from a "neutral" rating to a "buy" rating in a research report on Tuesday, August 5th. JPMorgan Chase & Co. raised Lloyds Banking Group from an "underweight" rating to a "neutral" rating in a research note on Friday, August 1st. Morgan Stanley reaffirmed an "overweight" rating on shares of Lloyds Banking Group in a research note on Monday, August 4th. Finally, Wall Street Zen raised Lloyds Banking Group from a "hold" rating to a "buy" rating in a report on Sunday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy".

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.

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