Lloyds Banking Group (NYSE:LYG) Shares Gap Down to $2.65

Lloyds Banking Group PLC (NYSE:LYG) shares gapped down prior to trading on Wednesday . The stock had previously closed at $2.73, but opened at $2.65. Lloyds Banking Group shares last traded at $2.57, with a volume of 4,753,666 shares traded.

Several research firms have recently issued reports on LYG. Zacks Investment Research lowered Lloyds Banking Group from a “hold” rating to a “sell” rating in a research report on Wednesday. Keefe, Bruyette & Woods lowered Lloyds Banking Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 28th. JPMorgan Chase & Co. lowered Lloyds Banking Group from an “overweight” rating to a “neutral” rating in a research report on Tuesday, July 16th. Bank of America lowered Lloyds Banking Group from a “buy” rating to an “underperform” rating in a research report on Thursday, April 18th. Finally, Davy Research raised Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research report on Tuesday, May 28th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $3.75.

The stock has a 50-day moving average price of $2.84. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a market capitalization of $49.37 billion, a price-to-earnings ratio of 7.79 and a beta of 1.04.

Lloyds Banking Group (NYSE:LYG) last issued its earnings results on Thursday, May 2nd. The financial services provider reported $0.14 earnings per share for the quarter. Lloyds Banking Group had a return on equity of 16.28% and a net margin of 23.77%. The business had revenue of $5.98 billion during the quarter. Equities research analysts forecast that Lloyds Banking Group PLC will post 0.43 EPS for the current fiscal year.

Large investors have recently modified their holdings of the business. Cutter & CO Brokerage Inc. purchased a new position in Lloyds Banking Group in the 2nd quarter worth approximately $30,000. Aperio Group LLC lifted its holdings in Lloyds Banking Group by 5.1% in the 2nd quarter. Aperio Group LLC now owns 3,840,483 shares of the financial services provider’s stock worth $10,907,000 after purchasing an additional 185,671 shares in the last quarter. Dfpg Investments Inc. purchased a new position in Lloyds Banking Group in the 2nd quarter worth approximately $39,000. First Trust Advisors LP lifted its holdings in Lloyds Banking Group by 44.1% in the 2nd quarter. First Trust Advisors LP now owns 60,228 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 18,443 shares in the last quarter. Finally, Schafer Cullen Capital Management Inc lifted its holdings in 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 purchasing an additional 1,543,978 shares in the last quarter. 1.94% of the stock is owned by institutional investors and hedge funds.

About Lloyds Banking Group (NYSE:LYG)

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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