Zacks Investment Research upgraded shares of Lloyds Banking Group (NYSE:LYG) from a sell rating to a hold rating in a report published on Thursday, Zacks.com reports.

According to Zacks, “Lloyds Banking Group plc, formerly Lloyds TSB Group plc, is a United Kingdom-based financial services company, whose businesses provide a range of banking and financial services in the United Kingdom and a limited number of locations overseas. Headquartered in London, the company operates through three segments: UK Retail Banking, Insurance and Investments, and Wholesale and International Banking. The UK Retail Banking segment provides banking and financial services, mortgages, and private banking services. The Insurance and Investments segment offers life assurance, pensions and savings products, general insurance, and fund management services. The Wholesale and International Banking segment provides banking and related services for companies, small and medium-sized businesses, banks, and financial institutions; and asset finance to personal and corporate customers. “

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. downgraded Lloyds Banking Group from an overweight rating to a neutral rating in a research report on Tuesday, July 16th. Deutsche Bank downgraded Lloyds Banking Group from a buy rating to a hold rating in a research report on Friday, September 6th. Keefe, Bruyette & Woods downgraded Lloyds Banking Group from a market perform rating to an underperform rating in a research report on Thursday, September 5th. Finally, Davy Research upgraded Lloyds Banking Group from a neutral rating to an outperform rating in a research report on Tuesday, May 28th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $3.75.

Shares of LYG traded up $0.13 during trading hours on Thursday, hitting $2.68. 7,198,135 shares of the company were exchanged, compared to its average volume of 6,106,877. The company has a market cap of $46.86 billion, a PE ratio of 8.12 and a beta of 1.04. The firm’s 50 day moving average is $2.45 and its 200-day moving average is $2.93. Lloyds Banking Group has a 52 week low of $2.30 and a 52 week high of $3.46. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.49 and a current ratio of 1.49.

Lloyds Banking Group (NYSE:LYG) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $0.12 earnings per share for the quarter. Lloyds Banking Group had a return on equity of 15.86% and a net margin of 23.57%. The firm had revenue of $5.99 billion during the quarter. As a group, equities analysts forecast that Lloyds Banking Group will post 0.36 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in LYG. Cambiar Investors LLC raised its holdings in shares of Lloyds Banking Group by 11.2% in the 1st quarter. Cambiar Investors LLC now owns 43,880,682 shares of the financial services provider’s stock worth $140,857,000 after buying an additional 4,405,176 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Lloyds Banking Group by 5.0% in the 2nd quarter. Bank of America Corp DE now owns 20,251,067 shares of the financial services provider’s stock worth $57,513,000 after buying an additional 970,068 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Lloyds Banking Group by 59.3% in the 2nd quarter. Renaissance Technologies LLC now owns 16,428,100 shares of the financial services provider’s stock worth $46,656,000 after buying an additional 6,116,500 shares in the last quarter. Parametric Portfolio Associates LLC raised its holdings in shares of Lloyds Banking Group by 7.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 12,156,073 shares of the financial services provider’s stock worth $34,523,000 after buying an additional 849,201 shares in the last quarter. Finally, Schafer Cullen Capital Management Inc raised its holdings in shares of Lloyds Banking Group by 18.0% in the 2nd quarter. Schafer Cullen Capital Management Inc now owns 10,110,437 shares of the financial services provider’s stock worth $29,017,000 after buying an additional 1,543,978 shares in the last quarter. Institutional investors own 2.01% of the company’s stock.

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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