StockNews.com Upgrades Lloyds Banking Group (NYSE:LYG) to Hold

Lloyds Banking Group (NYSE:LYG) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

LYG has been the subject of a number of other research reports. Keefe, Bruyette & Woods cut Lloyds Banking Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 11th. Hsbc Global Res upgraded Lloyds Banking Group to a “strong-buy” rating in a research note on Thursday, March 20th. Morgan Stanley upgraded Lloyds Banking Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, March 4th. Finally, HSBC upgraded Lloyds Banking Group from a “hold” rating to a “buy” rating in a research note on Tuesday, April 1st. Seven investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold”.

Lloyds Banking Group Stock Performance

Shares of LYG opened at $3.98 on Tuesday. The stock’s 50-day simple moving average is $3.75 and its 200 day simple moving average is $3.22. The stock has a market capitalization of $60.22 billion, a price-to-earnings ratio of 12.06 and a beta of 0.97. Lloyds Banking Group has a 52-week low of $2.56 and a 52-week high of $4.00.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. The business had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Lloyds Banking Group had a return on equity of 8.46% and a net margin of 11.45%. On average, research analysts forecast that Lloyds Banking Group will post 0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Crux Wealth Advisors bought a new position in Lloyds Banking Group in the fourth quarter worth approximately $28,000. Brentview Investment Management LLC purchased a new stake in Lloyds Banking Group during the fourth quarter worth $31,000. Focus Partners Wealth purchased a new stake in Lloyds Banking Group during the fourth quarter worth $31,000. Mesirow Financial Investment Management Inc. purchased a new stake in Lloyds Banking Group during the fourth quarter worth $32,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Lloyds Banking Group during the fourth quarter worth $34,000. 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.