JPMorgan Chase & Co. Increases Lloyds Banking Group (NYSE:LYG) Price Target to GBX 64

Lloyds Banking Group (NYSE:LYGGet Rating) had its price objective lifted by JPMorgan Chase & Co. from GBX 61 ($0.74) to GBX 64 ($0.77) in a report issued on Tuesday, The Fly reports.

Other equities research analysts also recently issued research reports about the stock. Berenberg Bank increased their target price on shares of Lloyds Banking Group from GBX 52 ($0.63) to GBX 55 ($0.66) in a research report on Friday, July 29th. Royal Bank of Canada increased their target price on shares of Lloyds Banking Group from GBX 42 ($0.51) to GBX 45 ($0.54) in a research report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Lloyds Banking Group from GBX 61 ($0.74) to GBX 64 ($0.77) in a research report on Friday, July 29th. Barclays increased their target price on shares of Lloyds Banking Group from GBX 52 ($0.63) to GBX 55 ($0.66) in a research report on Friday, July 29th. Finally, Credit Suisse Group increased their target price on shares of Lloyds Banking Group from GBX 71 ($0.86) to GBX 72 ($0.87) in a research report on Thursday, July 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a 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 $59.43.

Lloyds Banking Group Stock Up 1.0 %

Shares of NYSE:LYG opened at $2.05 on Tuesday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market cap of $35.10 billion, a PE ratio of 6.41, a price-to-earnings-growth ratio of 0.18 and a beta of 1.28. Lloyds Banking Group has a 52 week low of $1.90 and a 52 week high of $3.00. The firm has a 50 day simple moving average of $2.09 and a 200 day simple moving average of $2.22.

Lloyds Banking Group Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, September 22nd. Investors of record on Monday, August 8th will be paid a $0.0385 dividend. The ex-dividend date of this dividend is Friday, August 5th. This represents a yield of 4.7%. Lloyds Banking Group’s payout ratio is presently 25.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC grew its stake in Lloyds Banking Group by 203.1% in the 2nd quarter. Jane Street Group LLC now owns 25,791,856 shares of the financial services provider’s stock valued at $52,615,000 after buying an additional 17,281,593 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Lloyds Banking Group by 6.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 18,613,240 shares of the financial services provider’s stock worth $37,971,000 after purchasing an additional 1,119,332 shares during the last quarter. Gluskin Sheff & Assoc Inc. acquired a new stake in Lloyds Banking Group in the 4th quarter worth $11,947,000. Bank of Montreal Can grew its position in Lloyds Banking Group by 14.6% in the 2nd quarter. Bank of Montreal Can now owns 17,612,082 shares of the financial services provider’s stock worth $36,985,000 after purchasing an additional 2,246,121 shares during the last quarter. Finally, FMR LLC grew its position in Lloyds Banking Group by 12.5% in the 2nd quarter. FMR LLC now owns 14,614,456 shares of the financial services provider’s stock worth $29,814,000 after purchasing an additional 1,623,899 shares during the last quarter. 1.98% of the stock is currently owned by institutional investors and hedge funds.

About Lloyds Banking Group

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Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom. It operates through three segments: Retail; Commercial Banking; and Insurance and Wealth. 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 and small business customers.

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Analyst Recommendations for Lloyds Banking Group (NYSE:LYG)

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