Lloyds Banking Group (NYSE:LYG) Share Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Lloyds shares crossed above their 200-day moving average, reaching $6.08 and last trading at $6.05 versus the $5.60 average.
• Analyst sentiment remains positive overall, with seven Buy ratings and four Holds, giving the stock a “Moderate Buy” consensus despite some rating downgrades.
• The bank’s latest quarterly results slightly missed expectations, reporting $0.13 in EPS versus $0.14 expected and revenue of $6.57 billion versus $6.86 billion forecast.

Lloyds Banking Group PLC (NYSE:LYG - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.60 and traded as high as $6.08. Lloyds Banking Group shares last traded at $6.05, with a volume of 15,102,704 shares.

Analysts Set New Price Targets

A number of analysts have recently weighed in on LYG shares. Morgan Stanley reiterated an "overweight" rating on shares of Lloyds Banking Group in a research report on Tuesday, June 30th. Weiss Ratings raised shares of Lloyds Banking Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday. Berenberg Bank started coverage on shares of Lloyds Banking Group in a research note on Wednesday, June 24th. They set a "hold" rating on the stock. Wall Street Zen cut shares of Lloyds Banking Group from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. Finally, UBS Group raised shares of Lloyds Banking Group from a "neutral" rating to a "buy" rating in a report on Thursday, April 30th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Lloyds Banking Group presently has an average rating of "Moderate Buy".

Lloyds Banking Group Stock Performance

The company has a fifty day moving average of $5.98 and a two-hundred day moving average of $5.60. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.56 and a current ratio of 1.52. The company has a market cap of $87.95 billion, a price-to-earnings ratio of 14.07, a P/E/G ratio of 0.61 and a beta of 0.87.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last posted its earnings results on Thursday, July 30th. The financial services provider reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01). The firm had revenue of $6.57 billion during the quarter, compared to the consensus estimate of $6.86 billion. Lloyds Banking Group had a net margin of 24.97% and a return on equity of 10.94%. Equities research analysts anticipate that Lloyds Banking Group PLC will post 0.55 EPS for the current year.

Lloyds Banking Group Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, September 25th. Investors of record on Monday, August 10th will be given a dividend of $0.084 per share. The ex-dividend date is Monday, August 10th. This represents a yield of 273.0%. Lloyds Banking Group's dividend payout ratio (DPR) is currently 37.21%.

Hedge Funds Weigh In On Lloyds Banking Group

Several large investors have recently modified their holdings of LYG. Fisher Asset Management LLC lifted its holdings in shares of Lloyds Banking Group by 0.9% during the fourth quarter. Fisher Asset Management LLC now owns 151,258,982 shares of the financial services provider's stock worth $801,673,000 after purchasing an additional 1,300,718 shares during the period. WCM Investment Management LLC acquired a new stake in Lloyds Banking Group in the first quarter valued at $128,228,000. CIBC Private Wealth Group LLC raised its position in Lloyds Banking Group by 4.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 14,802,992 shares of the financial services provider's stock worth $78,456,000 after purchasing an additional 673,473 shares during the last quarter. Northern Trust Corp lifted its holdings in Lloyds Banking Group by 3.9% during the 3rd quarter. Northern Trust Corp now owns 14,279,272 shares of the financial services provider's stock worth $64,828,000 after buying an additional 541,501 shares during the period. Finally, Millennium Management LLC lifted its holdings in Lloyds Banking Group by 17.4% during the 3rd quarter. Millennium Management LLC now owns 8,815,679 shares of the financial services provider's stock worth $40,023,000 after buying an additional 1,309,359 shares during the period. Institutional investors own 2.15% of the company's stock.

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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