Lloyds Banking Group (LYG) Receives Buy Rating from UBS
UBS reaffirmed their buy rating on shares of Lloyds Banking Group (NYSE:LYG) in a report released on Tuesday, www.boersen-zeitung.de reports.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research raised Lloyds Banking Group from a hold rating to a buy rating and set a $4.25 target price on the stock in a research note on Tuesday, March 6th. JPMorgan Chase reaffirmed a buy rating on shares of Lloyds Banking Group in a research note on Monday, March 19th. Deutsche Bank reaffirmed a buy rating on shares of Lloyds Banking Group in a research note on Friday, February 9th. Morgan Stanley cut Lloyds Banking Group from an overweight rating to an equal rating in a research note on Wednesday, January 10th. Finally, ValuEngine cut Lloyds Banking Group from a buy rating to a hold rating in a research note on Monday, April 2nd. Five analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $4.25.
Shares of NYSE LYG opened at $3.58 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.84. Lloyds Banking Group has a 1-year low of $3.26 and a 1-year high of $4.21. The company has a market cap of $65,043.36, a price-to-earnings ratio of 6.12 and a beta of 0.89.
The firm also recently announced a semiannual dividend, which will be paid on Friday, June 8th. Stockholders of record on Friday, April 20th will be paid a dividend of $0.1141 per share. This is a boost from Lloyds Banking Group’s previous semiannual dividend of $0.08. The ex-dividend date is Thursday, April 19th. This represents a dividend yield of 6.01%. Lloyds Banking Group’s dividend payout ratio is currently 41.82%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Elkfork Partners LLC bought a new position in Lloyds Banking Group in the fourth quarter worth approximately $292,000. Envestnet Asset Management Inc. grew its stake in Lloyds Banking Group by 343.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,672,879 shares of the financial services provider’s stock worth $6,274,000 after purchasing an additional 1,295,923 shares in the last quarter. Sawtooth Solutions LLC grew its stake in Lloyds Banking Group by 47.7% in the fourth quarter. Sawtooth Solutions LLC now owns 56,426 shares of the financial services provider’s stock worth $212,000 after purchasing an additional 18,227 shares in the last quarter. Schafer Cullen Capital Management Inc. grew its stake in Lloyds Banking Group by 58.4% in the fourth quarter. Schafer Cullen Capital Management Inc. now owns 325,260 shares of the financial services provider’s stock worth $1,220,000 after purchasing an additional 119,895 shares in the last quarter. Finally, HighPoint Advisor Group LLC bought a new position in Lloyds Banking Group in the fourth quarter worth approximately $142,000. 2.40% of the stock is currently owned by hedge funds and other institutional investors.
Lloyds Banking Group Company Profile
Lloyds Banking Group plc provides banking and financial services under the Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows brands in the United Kingdom and internationally. The company 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 accounts, mortgages, motor finance, and unsecured consumer lending products to personal and small business customers.
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