Lloyds Banking Group (LON:LLOY) Shares Cross Above 200 Day Moving Average - Here's What Happened

Key Points

• Lloyds Banking Group shares rose above their 200-day moving average of GBX 104.34, reaching GBX 111.55 before last trading at GBX 109.65 on heavy volume of about 120 million shares.
• Analyst sentiment is broadly positive: six analysts rate the stock a Buy, three a Hold and one a Sell, producing a consensus “Moderate Buy” rating and a GBX 114.40 target price. Recent targets range from GBX 117 to GBX 127.
• The bank reported quarterly EPS of GBX 4.80, a 26.73% net margin and an 11.05% return on equity. Insider William Chalmers sold 8.45 million shares for approximately £9.46 million, while insiders own 0.15% of the company.

Lloyds Banking Group plc (LON:LLOY - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 104.34 and traded as high as GBX 111.55. Lloyds Banking Group shares last traded at GBX 109.65, with a volume of 120,062,016 shares traded.

Analysts Set New Price Targets

Several brokerages have commented on LLOY. Royal Bank Of Canada boosted their price objective on shares of Lloyds Banking Group from GBX 120 to GBX 124 and gave the company an "outperform" rating in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a GBX 125 target price on shares of Lloyds Banking Group in a report on Friday, July 31st. Berenberg Bank reiterated a "hold" rating and issued a GBX 117 price target on shares of Lloyds Banking Group in a research note on Wednesday, June 24th. Finally, Jefferies Financial Group lifted their price target on Lloyds Banking Group from GBX 125 to GBX 127 and gave the company a "buy" rating in a research note on Wednesday, September 2nd. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of GBX 114.40.

Lloyds Banking Group Price Performance

The business's fifty day moving average price is GBX 112.95 and its 200 day moving average price is GBX 104.34. The stock has a market cap of £63.47 billion, a P/E ratio of 13.71, a PEG ratio of 1.84 and a beta of 0.91.

Lloyds Banking Group (LON:LLOY - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported GBX 4.80 earnings per share (EPS) for the quarter. Lloyds Banking Group had a net margin of 26.73% and a return on equity of 11.05%. On average, analysts predict that Lloyds Banking Group plc will post 7.3199528 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lloyds Banking Group news, insider William Chalmers sold 8,445,139 shares of the firm's stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of GBX 112, for a total value of £9,458,555.68. 0.15% of the stock is owned by corporate insiders.

Lloyds Banking Group Company Profile

We are the largest UK retail and commercial financial services provider with over 25 million customers and a presence in nearly every community. The Group's main business activities are retail and commercial banking, general insurance and long-term savings, provided through the largest branch network and digital bank in the UK, with well recognised brands including Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows. Our shares are quoted on the London and New York stock exchanges and we are one of the largest companies in the FTSE 100 index.

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