Short Interest in Lloyds Banking Group PLC (NYSE:LYG) Declines By 35.2%

Lloyds Banking Group PLC (NYSE:LYG) was the target of a large decrease in short interest in February. As of February 27th, there was short interest totaling 16,237,483 shares, a decrease of 35.2% from the February 12th total of 25,077,095 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average trading volume of 22,552,258 shares, the days-to-cover ratio is currently 0.7 days. Based on an average trading volume of 22,552,258 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.1% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

LYG has been the topic of several research analyst reports. Morgan Stanley reiterated an “overweight” rating on shares of Lloyds Banking Group in a research report on Monday, November 24th. Weiss Ratings raised Lloyds Banking Group from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, February 17th. BNP Paribas Exane downgraded Lloyds Banking Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. Citigroup reissued a “neutral” rating on shares of Lloyds Banking Group in a research report on Monday, December 1st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Lloyds Banking Group in a research report on Tuesday, February 3rd. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Lloyds Banking Group Stock Down 2.2%

LYG stock traded down $0.12 during midday trading on Friday, reaching $5.03. The company had a trading volume of 22,466,839 shares, compared to its average volume of 21,188,994. The company has a 50 day moving average of $5.61 and a two-hundred day moving average of $5.06. The company has a market capitalization of $74.04 billion, a P/E ratio of 11.96, a PEG ratio of 0.51 and a beta of 0.86. Lloyds Banking Group has a 1 year low of $3.27 and a 1 year high of $6.34. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.84.

Lloyds Banking Group (NYSE:LYG) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.12 EPS for the quarter, beating the consensus estimate of $0.11 by $0.01. Lloyds Banking Group had a net margin of 24.30% and a return on equity of 10.06%. The business had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.52 billion. On average, equities research analysts expect that Lloyds Banking Group will post 0.27 earnings per share for the current fiscal year.

Lloyds Banking Group Announces Dividend

The company also recently announced a dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, April 10th will be paid a $0.134 dividend. The ex-dividend date is Friday, April 10th. This represents a yield of 447.0%. Lloyds Banking Group’s payout ratio is 30.95%.

Institutional Investors Weigh In On Lloyds Banking Group

Institutional investors and hedge funds have recently modified their holdings of the business. Fisher Asset Management LLC increased its position in Lloyds Banking Group by 0.9% during the fourth quarter. Fisher Asset Management LLC now owns 151,258,982 shares of the financial services provider’s stock worth $801,673,000 after buying an additional 1,300,718 shares during the last quarter. L1 Capital Pty Ltd acquired a new stake in shares of Lloyds Banking Group in the second quarter worth about $548,574,000. Mondrian Investment Partners LTD bought a new stake in shares of Lloyds Banking Group during the 3rd quarter worth about $285,004,000. CIBC Private Wealth Group LLC increased its holdings in shares of Lloyds Banking Group by 4.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 14,802,992 shares of the financial services provider’s stock valued at $78,456,000 after acquiring an additional 673,473 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Lloyds Banking Group by 3.9% in the 3rd quarter. Northern Trust Corp now owns 14,279,272 shares of the financial services provider’s stock valued at $64,828,000 after acquiring an additional 541,501 shares in the last quarter. Institutional investors and hedge funds own 2.15% of the company’s stock.

Lloyds Banking Group Company Profile

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.