Lloyds Banking Group (NYSE:LYG) Upgraded to "Buy" at Bank of America

Lloyds Banking Group (NYSE:LYG - Get Free Report) was upgraded by investment analysts at Bank of America from a "neutral" rating to a "buy" rating in a report released on Thursday, Marketbeat.com reports.

Separately, Morgan Stanley upgraded Lloyds Banking Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, November 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $64.17.

Lloyds Banking Group Trading Up 1.6 %

Shares of NYSE LYG traded up $0.04 during mid-day trading on Thursday, hitting $2.59. The stock had a trading volume of 18,837,045 shares, compared to its average volume of 8,833,947. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.48 and a current ratio of 1.48. Lloyds Banking Group has a 1 year low of $1.88 and a 1 year high of $2.62. The business has a 50 day moving average price of $2.24 and a two-hundred day moving average price of $2.18. The firm has a market cap of $41.50 billion, a P/E ratio of 6.50, a price-to-earnings-growth ratio of 0.70 and a beta of 1.30.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last announced its earnings results on Thursday, February 22nd. The financial services provider reported $0.11 EPS for the quarter. The firm had revenue of $19.05 billion for the quarter. Lloyds Banking Group had a net margin of 17.97% and a return on equity of 11.29%. On average, equities analysts anticipate that Lloyds Banking Group will post 0.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Lloyds Banking Group

Several institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC bought a new stake in Lloyds Banking Group during the third quarter valued at about $1,363,000. UBS Group AG boosted its position in Lloyds Banking Group by 21.9% during the third quarter. UBS Group AG now owns 2,285,047 shares of the financial services provider's stock valued at $4,867,000 after purchasing an additional 411,188 shares in the last quarter. Natixis Advisors L.P. boosted its position in Lloyds Banking Group by 16.2% during the third quarter. Natixis Advisors L.P. now owns 5,281,855 shares of the financial services provider's stock valued at $11,250,000 after purchasing an additional 735,219 shares in the last quarter. Timber Creek Capital Management LLC boosted its position in Lloyds Banking Group by 26.1% during the third quarter. Timber Creek Capital Management LLC now owns 1,320,588 shares of the financial services provider's stock valued at $2,813,000 after purchasing an additional 273,526 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in Lloyds Banking Group by 23.4% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 707,999 shares of the financial services provider's stock valued at $1,508,000 after purchasing an additional 134,075 shares in the last quarter. Hedge funds and other institutional investors 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.