Lloyds Banking Group (NYSE:LYG) Shares Gap Down to $2.43

Lloyds Banking Group PLC (NYSE:LYG) shares gapped down prior to trading on Friday . The stock had previously closed at $2.51, but opened at $2.43. Lloyds Banking Group shares last traded at $2.37, with a volume of 8,143,441 shares changing hands.

A number of equities research analysts have recently weighed in on LYG shares. JPMorgan Chase & Co. downgraded shares of Lloyds Banking Group from an “overweight” rating to a “neutral” rating in a research note on Tuesday, July 16th. Zacks Investment Research upgraded shares of Lloyds Banking Group from a “sell” rating to a “hold” rating in a research note on Wednesday. Keefe, Bruyette & Woods downgraded shares of Lloyds Banking Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 28th. Bank of America downgraded shares of Lloyds Banking Group from a “buy” rating to an “underperform” rating in a research note on Thursday, April 18th. Finally, Davy Research upgraded shares of Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday, May 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $3.75.

The business has a 50-day moving average of $2.76. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 2.36. The firm has a market cap of $43.78 billion, a price-to-earnings ratio of 7.18 and a beta of 1.03.

A number of large investors have recently bought and sold shares of LYG. Comerica Securities Inc. boosted its position in Lloyds Banking Group by 56.7% during the 4th quarter. Comerica Securities Inc. now owns 26,703 shares of the financial services provider’s stock worth $68,000 after buying an additional 9,661 shares during the period. Geode Capital Management LLC boosted its position in Lloyds Banking Group by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 241,942 shares of the financial services provider’s stock worth $618,000 after buying an additional 8,625 shares during the period. Two Sigma Advisers LP acquired a new stake in Lloyds Banking Group during the 4th quarter worth approximately $1,167,000. Deutsche Bank AG boosted its position in Lloyds Banking Group by 2,157.8% during the 4th quarter. Deutsche Bank AG now owns 5,284,852 shares of the financial services provider’s stock worth $13,529,000 after buying an additional 5,050,777 shares during the period. Finally, We Are One Seven LLC boosted its position in Lloyds Banking Group by 105.1% during the 1st quarter. We Are One Seven LLC now owns 19,160 shares of the financial services provider’s stock worth $61,000 after buying an additional 9,818 shares during the period. Institutional investors and hedge funds own 1.91% of the company’s stock.

Lloyds Banking Group Company Profile (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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