Lloyds Banking Group (NYSE:LYG) Shares Gap Down to $3.14

Lloyds Banking Group plc (NYSE:LYG) gapped down before the market opened on Wednesday . The stock had previously closed at $3.14, but opened at $3.04. Lloyds Banking Group shares last traded at $3.06, with a volume of 2,453,711 shares changing hands.

Analyst Upgrades and Downgrades

LYG has been the subject of a number of recent research reports. Citigroup cut Lloyds Banking Group from a “buy” rating to a “neutral” rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft assumed coverage on Lloyds Banking Group in a research note on Thursday, May 9th. They issued a “buy” rating for the company. Royal Bank of Canada lowered shares of Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a report on Friday, July 26th. BNP Paribas raised shares of Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research note on Friday, July 5th. Finally, UBS Group reiterated a “neutral” rating on shares of Lloyds Banking Group in a report on Tuesday, July 30th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $32.38.

Lloyds Banking Group Stock Down 3.2 %

The company has a current ratio of 1.45, a quick ratio of 1.48 and a debt-to-equity ratio of 1.89. The stock’s 50-day moving average price is $2.93 and its 200-day moving average price is $2.68. The stock has a market cap of $47.51 billion, a price-to-earnings ratio of 8.26 and a beta of 1.35.

Lloyds Banking Group (NYSE:LYG) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.09 earnings per share (EPS) for the quarter. Lloyds Banking Group had a net margin of 12.40% and a return on equity of 10.34%. The business had revenue of $9.55 billion for the quarter. On average, sell-side analysts expect that Lloyds Banking Group plc will post 0.32 earnings per share for the current year.

Lloyds Banking Group Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Friday, September 20th. Shareholders of record on Monday, August 5th will be issued a $0.0546 dividend. This is an increase from Lloyds Banking Group’s previous semi-annual dividend of $0.05. This represents a yield of 4.4%. The ex-dividend date is Monday, August 5th. Lloyds Banking Group’s payout ratio is presently 26.32%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of LYG. TCG Advisory Services LLC acquired a new position in Lloyds Banking Group during the 4th quarter worth approximately $25,000. Atria Wealth Solutions Inc. bought a new position in shares of Lloyds Banking Group in the 4th quarter worth $26,000. D Orazio & Associates Inc. acquired a new stake in Lloyds Banking Group in the 4th quarter valued at $26,000. Headlands Technologies LLC bought a new stake in Lloyds Banking Group during the 4th quarter valued at $27,000. Finally, Choreo LLC acquired a new position in Lloyds Banking Group during the fourth quarter worth $27,000. Institutional investors and hedge funds own 2.15% of the company’s stock.

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.