Lloyds Banking Group (LON:LLOY) Price Target Cut to GBX 117 by Analysts at Berenberg Bank

Lloyds Banking Group (LON:LLOY) had its price target cut by equities research analysts at Berenberg Bank from GBX 121 to GBX 117 in a research report issued to clients and investors on Friday, Digital Look reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Berenberg Bank‘s target price suggests a potential upside of 21.85% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. Royal Bank Of Canada downgraded Lloyds Banking Group to a “sector perform” rating and cut their target price for the stock from GBX 124 to GBX 115 in a research note on Friday, October 16th. JPMorgan Chase & Co. lifted their price target on Lloyds Banking Group from GBX 121 to GBX 123 and gave the company a “neutral” rating in a research note on Tuesday, September 15th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 125 price target on shares of Lloyds Banking Group in a research note on Friday, July 31st. Finally, Jefferies Financial Group upped their price objective on Lloyds Banking Group from GBX 125 to GBX 127 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of GBX 116.

Lloyds Banking Group Stock Down 2.7%

LON LLOY opened at GBX 96.02 on Friday. The stock has a market capitalization of £55.15 billion, a P/E ratio of 12.00, a P/E/G ratio of 1.84 and a beta of 0.94. Lloyds Banking Group has a 52-week low of GBX 85.82 and a 52-week high of GBX 123.10. The firm has a 50-day moving average price of GBX 106.98 and a 200 day moving average price of GBX 104.54.

Lloyds Banking Group (LON:LLOY) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported GBX 4.80 earnings per share for the quarter. Lloyds Banking Group had a return on equity of 11.05% and a net margin of 26.73%. On average, equities research analysts expect that Lloyds Banking Group will post 7.32 earnings per share for the current fiscal year.

Insider Transactions at Lloyds Banking Group

In related news, insider Catherine Woods bought 1,810 shares of the stock in a transaction on Wednesday, September 23rd. The shares were bought at an average cost of GBX 110 per share, for a total transaction of £1,991. Also, insider William Chalmers sold 8,445,139 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of GBX 112, for a total transaction of £9,458,555.68. 0.15% of the stock is currently owned by insiders.

Key Lloyds Banking Group News

Here are the key news stories impacting Lloyds Banking Group this week:

• Positive Sentiment: Strong nine-month earnings: Statutory profit before tax rose 42% to approximately £6.6 billion, supported by higher income and lower remediation costs. The bank also reported a roughly £2.3 billion third-quarter profit and reaffirmed its full-year guidance. Lloyds Banking 9-Month Pre-Tax Profit Rises 42%; Reaffirms Outlook
• Positive Sentiment: Core lending growth continues: Lloyds’ mortgage book expanded by £300 million, indicating continued balance-sheet growth even though its 17% share of mortgage completions highlights competitive pressure. Lloyds mortgage book grows £300m despite 17% completions share
• Positive Sentiment: Analyst remains constructive: Bank of America maintained its Buy rating and 140p price target, viewing the third-quarter performance as supportive of the investment case. Lloyds Buy Rating Maintained
• Neutral Sentiment: Capital position disclosed: Lloyds published its capitalisation and indebtedness position as of September 30, providing investors with updated balance-sheet information but no clear new catalyst for the stock. Lloyds Capitalisation and Debt Position
• Negative Sentiment: Outlook and quarterly details disappointed: Although Lloyds beat some earnings expectations, reports cited a flat outlook and third-quarter misses, while investors weighed rising operating costs. This prompted selling despite the headline profit increase. Lloyds Profit Beat Marred by Flat Outlook
• Negative Sentiment: Higher bank taxes are an additional risk: Lloyds executives criticized a proposed £1.5 billion increase in bank taxes, warning it could reduce competitiveness, constrain growth and pressure future profitability. Lloyds Executive Criticises Bank Tax Rise

About Lloyds Banking Group

We are the largest UK retail and commercial financial services provider with over 25 million customers and a presence in nearly every community.

The Group’s main business activities are retail and commercial banking, general insurance and long-term savings, provided through the largest branch network and digital bank in the UK, with well recognised brands including Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows.

Our shares are quoted on the London and New York stock exchanges and we are one of the largest companies in the FTSE 100 index.