Lloyds Banking Group plc (NYSE:LYG – Get Free Report)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $3.23, but opened at $3.08. Lloyds Banking Group shares last traded at $3.05, with a volume of 2,003,008 shares.
Wall Street Analysts Forecast Growth
LYG has been the topic of a number of analyst reports. Kepler Capital Markets started coverage on Lloyds Banking Group in a report on Thursday, September 5th. They set a “hold” rating on the stock. UBS Group reissued a “neutral” rating on shares of Lloyds Banking Group in a research report on Tuesday, July 30th. The Goldman Sachs Group started coverage on shares of Lloyds Banking Group in a research note on Friday, October 4th. They issued a “neutral” rating for the company. Royal Bank of Canada downgraded shares of Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a report on Friday, July 26th. Finally, Citigroup cut shares of Lloyds Banking Group from a “buy” rating to a “neutral” rating in a report on Monday, August 5th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Lloyds Banking Group has an average rating of “Hold” and an average target price of $2.75.
Check Out Our Latest Analysis on Lloyds Banking Group
Lloyds Banking Group Trading Down 8.7 %
Lloyds Banking Group (NYSE:LYG – Get Free Report) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.09 earnings per share 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 during the quarter. On average, research analysts forecast that Lloyds Banking Group plc will post 0.3 EPS for the current fiscal year.
Institutional Trading of Lloyds Banking Group
A number of hedge funds have recently modified their holdings of LYG. Transcend Capital Advisors LLC acquired a new stake in Lloyds Banking Group during the second quarter worth $28,000. Interchange Capital Partners LLC bought a new stake in Lloyds Banking Group in the second quarter valued at about $28,000. Intergy Private Wealth LLC acquired a new position in Lloyds Banking Group in the second quarter worth about $29,000. Susquehanna International Securities Ltd. bought a new position in Lloyds Banking Group during the first quarter worth about $30,000. Finally, Tcwp LLC acquired a new stake in Lloyds Banking Group during the second quarter valued at approximately $32,000. 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.
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