Lloyds Banking Group (NYSE:LYG) Research Coverage Started at Berenberg Bank

Berenberg Bank assumed coverage on shares of Lloyds Banking Group (NYSE:LYG) in a research report sent to investors on Thursday morning, Marketbeat.com reports. The firm issued a hold rating and a $2.75 target price on the financial services provider’s stock.

Separately, Bank of America upgraded Lloyds Banking Group from a neutral rating to a buy rating in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Lloyds Banking Group presently has a consensus rating of Hold and an average price target of $55.39.

Lloyds Banking Group Price Performance

Shares of Lloyds Banking Group stock opened at $2.52 on Thursday. The stock has a market cap of $40.14 billion, a price-to-earnings ratio of 6.30, a price-to-earnings-growth ratio of 1.05 and a beta of 1.32. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a 50 day moving average price of $2.47 and a 200-day moving average price of $2.27. Lloyds Banking Group has a one year low of $1.88 and a one year high of $2.72.

Lloyds Banking Group (NYSE:LYG) 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 during the quarter. Lloyds Banking Group had a return on equity of 11.29% and a net margin of 17.97%. Equities analysts expect that Lloyds Banking Group will post 0.32 EPS for the current year.

Lloyds Banking Group Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, May 31st. Investors of record on Friday, April 12th will be issued a dividend of $0.046 per share. This represents a yield of 5.9%. The ex-dividend date of this dividend is Thursday, April 11th. Lloyds Banking Group’s payout ratio is currently 45.00%.

Hedge Funds Weigh In On Lloyds Banking Group

A number of large investors have recently bought and sold shares of the business. CIBC Private Wealth Group LLC raised its position in Lloyds Banking Group by 149.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 29,696,591 shares of the financial services provider’s stock valued at $70,975,000 after purchasing an additional 17,814,615 shares in the last quarter. Morningstar Investment Services LLC raised its position in Lloyds Banking Group by 96.9% during the 4th quarter. Morningstar Investment Services LLC now owns 21,147,627 shares of the financial services provider’s stock valued at $50,966,000 after purchasing an additional 10,406,673 shares in the last quarter. Mondrian Investment Partners LTD raised its position in Lloyds Banking Group by 8.7% during the 3rd quarter. Mondrian Investment Partners LTD now owns 29,131,456 shares of the financial services provider’s stock valued at $62,050,000 after purchasing an additional 2,336,000 shares in the last quarter. Natixis Advisors L.P. raised its position in Lloyds Banking Group by 34.8% during the 4th quarter. Natixis Advisors L.P. now owns 7,122,268 shares of the financial services provider’s stock valued at $17,021,000 after purchasing an additional 1,840,413 shares in the last quarter. Finally, Meritage Portfolio Management bought a new stake in Lloyds Banking Group during the 4th quarter valued at $3,470,000. 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.