Lloyds Banking Group PLC (NYSE:LYG) Short Interest Up 69.0% in August

Lloyds Banking Group PLC (NYSE:LYG) was the recipient of a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 2,803,823 shares, a growth of 69.0% from the July 30th total of 1,659,386 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 12,929,713 shares, the days-to-cover ratio is presently 0.2 days.

Lloyds Banking Group Stock Up 0.9%

Shares of NYSE:LYG opened at $5.92 on Wednesday. The business’s 50-day moving average is $6.02 and its 200-day moving average is $5.60. Lloyds Banking Group has a 1 year low of $4.20 and a 1 year high of $6.34. The company has a market capitalization of $86.06 billion, a price-to-earnings ratio of 13.77, a P/E/G ratio of 0.59 and a beta of 0.87. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.52 and a quick ratio of 0.56.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). The business had revenue of $6.57 billion during the quarter, compared to analyst estimates 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 predict that Lloyds Banking Group will post 0.55 earnings per share for the current year.

Lloyds Banking Group Cuts Dividend

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

Analysts Set New Price Targets

LYG has been the subject of several recent research reports. Keefe, Bruyette & Woods cut Lloyds Banking Group from a “moderate buy” rating to a “hold” rating in a research note on Friday, July 17th. Berenberg Bank initiated coverage on Lloyds Banking Group in a research note on Wednesday, June 24th. They issued a “hold” rating on the stock. Bank of America raised shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research report on Tuesday. Citigroup restated a “buy” rating on shares of Lloyds Banking Group in a report on Thursday, July 16th. Finally, Morgan Stanley restated an “overweight” rating on shares of Lloyds Banking Group in a research report on Tuesday, June 30th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Hedge Funds Weigh In On Lloyds Banking Group

Several institutional investors have recently made changes to their positions in the stock. Tucker Asset Management LLC bought a new stake in Lloyds Banking Group in the 4th quarter valued at about $27,000. Cornerstone Planning Group LLC raised its position in shares of Lloyds Banking Group by 131.2% during the first quarter. Cornerstone Planning Group LLC now owns 5,137 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 2,915 shares during the period. Harbour Investments Inc. lifted its holdings in shares of Lloyds Banking Group by 47.3% in the 4th quarter. Harbour Investments Inc. now owns 6,386 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 2,051 shares in the last quarter. Manchester Capital Management LLC grew its position in Lloyds Banking Group by 1,216.6% in the 4th quarter. Manchester Capital Management LLC now owns 8,163 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 7,543 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in Lloyds Banking Group by 162.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 11,724 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 7,253 shares in the last quarter. Institutional investors and hedge funds own 2.15% of the company’s stock.

About Lloyds Banking Group

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.