Lloyds Banking Group (NYSE:LYG) was downgraded by stock analysts at Bank of America from a “buy” rating to an “underperform” rating in a research note issued to investors on Thursday, MarketBeat reports.

Several other brokerages have also weighed in on LYG. Goldman Sachs Group raised Lloyds Banking Group from a “sell” rating to a “neutral” rating in a research report on Monday, March 11th. Zacks Investment Research lowered Lloyds Banking Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 21st. Keefe, Bruyette & Woods raised Lloyds Banking Group from an “underperform” rating to an “outperform” rating in a research report on Thursday, January 24th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Lloyds Banking Group in a research report on Tuesday, January 22nd. Finally, Morgan Stanley raised Lloyds Banking Group from an “equal” rating to a “weight” rating in a research report on Monday, February 11th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Lloyds Banking Group has a consensus rating of “Hold” and an average target price of $3.50.

Shares of LYG opened at $3.38 on Thursday. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.47 and a quick ratio of 1.47. Lloyds Banking Group has a 1 year low of $2.43 and a 1 year high of $3.83. The stock has a market capitalization of $60.90 billion, a PE ratio of 2.58 and a beta of 1.03.

Lloyds Banking Group (NYSE:LYG) last issued its earnings results on Wednesday, February 20th. The financial services provider reported $0.10 earnings per share for the quarter. Lloyds Banking Group had a return on equity of 14.65% and a net margin of 23.49%. The business had revenue of $5.87 billion for the quarter. As a group, sell-side analysts expect that Lloyds Banking Group will post 0.4 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in Lloyds Banking Group by 146.4% during the third quarter. JPMorgan Chase & Co. now owns 1,836,496 shares of the financial services provider’s stock worth $5,584,000 after buying an additional 1,091,025 shares during the period. Park National Corp OH increased its position in Lloyds Banking Group by 24.2% during the fourth quarter. Park National Corp OH now owns 31,856 shares of the financial services provider’s stock worth $82,000 after buying an additional 6,201 shares during the period. Renaissance Technologies LLC increased its position in Lloyds Banking Group by 69.4% during the third quarter. Renaissance Technologies LLC now owns 1,590,800 shares of the financial services provider’s stock worth $4,836,000 after buying an additional 651,700 shares during the period. Hilltop Holdings Inc. increased its position in Lloyds Banking Group by 49.4% during the fourth quarter. Hilltop Holdings Inc. now owns 39,048 shares of the financial services provider’s stock worth $100,000 after buying an additional 12,908 shares during the period. Finally, KCS Wealth Advisory increased its position in Lloyds Banking Group by 15.2% during the fourth quarter. KCS Wealth Advisory now owns 257,702 shares of the financial services provider’s stock worth $660,000 after buying an additional 33,996 shares during the period. 1.91% of the stock is currently owned by institutional investors and hedge funds.

About Lloyds Banking Group

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. 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 accounts, mortgages, motor finance, unsecured consumer 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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