Lloyds Banking Group (NYSE:LYG) PT Raised to GBX 72 at Credit Suisse Group

Lloyds Banking Group (NYSE:LYG – Get Rating) had its target price lifted by analysts at Credit Suisse Group from GBX 71 ($0.86) to GBX 72 ($0.87) in a note issued to investors on Thursday, The Fly reports.

A number of other brokerages have also recently commented on LYG. Bank of America raised Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 27th. Barclays lowered Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a report on Tuesday, April 5th. UBS Group lifted their target price on Lloyds Banking Group from GBX 58 ($0.70) to GBX 61 ($0.73) in a report on Thursday, April 28th. StockNews.com started coverage on Lloyds Banking Group in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Royal Bank of Canada lifted their target price on Lloyds Banking Group from GBX 42 ($0.51) to GBX 45 ($0.54) in a report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.75.

Lloyds Banking Group Trading Down 2.7 %

Shares of NYSE LYG traded down $0.06 during midday trading on Thursday, hitting $2.16. The stock had a trading volume of 1,145,018 shares, compared to its average volume of 13,183,998. The company’s 50-day simple moving average is $2.11 and its 200 day simple moving average is $2.37. The firm has a market cap of $37.28 billion, a P/E ratio of 5.54, a price-to-earnings-growth ratio of 0.20 and a beta of 1.29. Lloyds Banking Group has a fifty-two week low of $1.90 and a fifty-two week high of $3.00. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.14 and a quick ratio of 1.14.

Lloyds Banking Group (NYSE:LYG – Get Rating) last announced its quarterly earnings data on Wednesday, April 27th. The financial services provider reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. Lloyds Banking Group had a return on equity of 11.10% and a net margin of 25.36%. The business had revenue of $5.54 billion during the quarter, compared to analysts’ expectations of $5.20 billion. Research analysts anticipate that Lloyds Banking Group will post 0.34 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LYG. Avantax Advisory Services Inc. lifted its stake in shares of Lloyds Banking Group by 155.8% in the fourth quarter. Avantax Advisory Services Inc. now owns 27,565 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 16,790 shares during the period. National Bank of Canada FI acquired a new stake in Lloyds Banking Group in the fourth quarter worth $412,000. Octavia Wealth Advisors LLC grew its holdings in Lloyds Banking Group by 48.3% in the fourth quarter. Octavia Wealth Advisors LLC now owns 15,544 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 5,063 shares during the period. Cottonwood Capital Advisors LLC acquired a new position in shares of Lloyds Banking Group during the fourth quarter valued at about $111,000. Finally, Boston Common Asset Management LLC acquired a new position in shares of Lloyds Banking Group during the fourth quarter valued at about $3,085,000. Institutional investors own 1.41% of the company’s stock.

About Lloyds Banking Group

(Get Rating)

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom. It operates through three segments: Retail; Commercial Banking; and Insurance and Wealth. 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 and small business customers.