Lloyds Banking Group (LON:LLOY) Trading Up 2.4% – What’s Next?

Lloyds Banking Group plc (LON:LLOY) shot up 2.4% on Wednesday . The stock traded as high as GBX 55.54 ($0.70) and last traded at GBX 54.22 ($0.68). 490,155,289 shares traded hands during trading, an increase of 211% from the average session volume of 157,355,188 shares. The stock had previously closed at GBX 52.94 ($0.67).

Wall Street Analyst Weigh In

A number of analysts recently issued reports on LLOY shares. Citigroup restated a “neutral” rating on shares of Lloyds Banking Group in a research report on Thursday, October 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a GBX 60 ($0.76) price target on shares of Lloyds Banking Group in a research note on Thursday, October 24th. Berenberg Bank reissued a “hold” rating and issued a GBX 55 ($0.69) price objective on shares of Lloyds Banking Group in a research report on Wednesday, August 21st. Finally, Shore Capital restated a “hold” rating on shares of Lloyds Banking Group in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Lloyds Banking Group currently has an average rating of “Hold” and a consensus target price of GBX 55.50 ($0.70).

Lloyds Banking Group Trading Up 0.7 %

The firm’s 50-day moving average is GBX 56.31 and its two-hundred day moving average is GBX 56.92. The stock has a market cap of £33.93 billion, a price-to-earnings ratio of 791.43, a P/E/G ratio of 1.84 and a beta of 1.23.

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.