Lloyds Banking Group (NYSE:LYG) Reaches New 52-Week High at $2.71

Lloyds Banking Group plc (NYSE:LYG - Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as $2.71 and last traded at $2.70, with a volume of 914776 shares changing hands. The stock had previously closed at $2.61.

Wall Street Analyst Weigh In

Separately, Bank of America upgraded Lloyds Banking Group from a "neutral" rating to a "buy" rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $64.17.

Lloyds Banking Group Price Performance

The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.81. The firm has a market cap of $42.70 billion, a P/E ratio of 6.66, a PEG ratio of 1.05 and a beta of 1.32. The business has a fifty day moving average of $2.33 and a 200 day moving average of $2.22.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.11 earnings per share (EPS) for the quarter. The firm had revenue of $19.05 billion during the quarter. Lloyds Banking Group had a net margin of 17.97% and a return on equity of 11.29%. On average, sell-side analysts anticipate that Lloyds Banking Group plc will post 0.32 earnings per share for the current year.

Lloyds Banking Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, April 12th will be given a dividend of $0.046 per share. The ex-dividend date is Thursday, April 11th. This represents a yield of 5.9%. Lloyds Banking Group's dividend payout ratio (DPR) is presently 45.00%.

Institutional Investors Weigh In On Lloyds Banking Group

Several hedge funds have recently bought and sold shares of the stock. Timber Creek Capital Management LLC raised its position in shares of Lloyds Banking Group by 3.6% in the first quarter. Timber Creek Capital Management LLC now owns 1,366,230 shares of the financial services provider's stock valued at $3,539,000 after buying an additional 47,015 shares in the last quarter. HighPoint Advisor Group LLC acquired a new stake in shares of Lloyds Banking Group in the fourth quarter valued at approximately $113,000. Warren Street Wealth Advisors LLC acquired a new stake in shares of Lloyds Banking Group in the fourth quarter valued at approximately $29,000. Sivia Capital Partners LLC acquired a new stake in shares of Lloyds Banking Group in the fourth quarter valued at approximately $164,000. Finally, SageView Advisory Group LLC acquired a new stake in shares of Lloyds Banking Group in the fourth quarter valued at approximately $97,000. 2.15% of the stock is currently owned by institutional investors and hedge funds.

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.