Lloyds Banking Group (NYSE:LYG) Stock Rating Upgraded by HSBC

HSBC upgraded shares of Lloyds Banking Group (NYSE:LYG) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports.

A number of other research analysts also recently commented on LYG. Morgan Stanley raised shares of Lloyds Banking Group from an “equal weight” rating to an “overweight” rating in a report on Tuesday, March 4th. Keefe, Bruyette & Woods downgraded Lloyds Banking Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 11th. Finally, Hsbc Global Res raised shares of Lloyds Banking Group to a “strong-buy” rating in a research note on Thursday, March 20th. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Lloyds Banking Group presently has a consensus rating of “Moderate Buy” and an average price target of $2.75.

Lloyds Banking Group Trading Down 0.4 %

Shares of Lloyds Banking Group stock opened at $3.81 on Tuesday. Lloyds Banking Group has a 12 month low of $2.42 and a 12 month high of $3.91. The stock has a 50 day moving average of $3.45 and a 200 day moving average of $3.07. The firm has a market cap of $57.80 billion, a PE ratio of 11.53 and a beta of 1.25.

Lloyds Banking Group (NYSE:LYG) last posted its earnings results on Thursday, February 20th. The financial services provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). The business had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $4.76 billion. Lloyds Banking Group had a net margin of 11.45% and a return on equity of 8.46%. As a group, equities research analysts forecast that Lloyds Banking Group will post 0.27 earnings per share for the current fiscal year.

Lloyds Banking Group Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, April 11th will be given a $0.1035 dividend. This represents a yield of 4%. The ex-dividend date is Friday, April 11th. This is an increase from Lloyds Banking Group’s previous semi-annual dividend of $0.05. Lloyds Banking Group’s dividend payout ratio is 60.61%.

Institutional Trading of Lloyds Banking Group

A number of large investors have recently made changes to their positions in the stock. Apollon Wealth Management LLC increased its stake in Lloyds Banking Group by 2.8% in the 4th quarter. Apollon Wealth Management LLC now owns 122,641 shares of the financial services provider’s stock worth $334,000 after buying an additional 3,346 shares during the period. Independent Advisor Alliance increased its position in shares of Lloyds Banking Group by 4.8% during the fourth quarter. Independent Advisor Alliance now owns 75,049 shares of the financial services provider’s stock worth $204,000 after acquiring an additional 3,420 shares during the period. Rehmann Capital Advisory Group raised its stake in shares of Lloyds Banking Group by 9.9% during the fourth quarter. Rehmann Capital Advisory Group now owns 38,339 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 3,451 shares in the last quarter. OneDigital Investment Advisors LLC boosted its holdings in shares of Lloyds Banking Group by 3.5% in the fourth quarter. OneDigital Investment Advisors LLC now owns 109,799 shares of the financial services provider’s stock valued at $299,000 after purchasing an additional 3,728 shares during the period. Finally, Brio Consultants LLC lifted its holdings in shares of Lloyds Banking Group by 30.2% in the 4th quarter. Brio Consultants LLC now owns 16,735 shares of the financial services provider’s stock worth $46,000 after buying an additional 3,880 shares during the period. 2.15% of the stock is owned by hedge funds and other institutional investors.

About Lloyds Banking Group

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.