Lloyds Banking Group (NYSE:LYG) Research Coverage Started at Berenberg Bank

Research analysts at Berenberg Bank assumed coverage on shares of Lloyds Banking Group (NYSE:LYG) in a report issued on Thursday, Briefing.com reports. The brokerage set a “hold” rating and a $2.75 price target on the financial services provider’s stock. Berenberg Bank’s price objective suggests a potential upside of 8.06% from the stock’s current price.

Separately, Bank of America upgraded shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Lloyds Banking Group currently has a consensus rating of “Hold” and an average price target of $55.39.

Lloyds Banking Group Price Performance

Shares of Lloyds Banking Group stock opened at $2.55 on Thursday. Lloyds Banking Group has a twelve month low of $1.88 and a twelve month high of $2.72. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.81. The company has a 50-day simple moving average of $2.46 and a two-hundred day simple moving average of $2.27. The stock has a market capitalization of $40.54 billion, a price-to-earnings ratio of 6.36, a price-to-earnings-growth ratio of 1.06 and a beta of 1.32.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.11 earnings per share for the quarter. Lloyds Banking Group had a net margin of 17.97% and a return on equity of 11.29%. The business had revenue of $19.05 billion during the quarter. Analysts forecast that Lloyds Banking Group will post 0.32 EPS for the current year.

Hedge Funds Weigh In On Lloyds Banking Group

Several hedge funds and other institutional investors have recently made changes to their positions in LYG. Naples Money Management LLC acquired a new position in Lloyds Banking Group during the 4th quarter worth approximately $25,000. TCG Advisory Services LLC acquired a new position in Lloyds Banking Group during the 4th quarter worth approximately $25,000. Atria Wealth Solutions Inc. acquired a new position in Lloyds Banking Group during the 4th quarter worth approximately $26,000. D Orazio & Associates Inc. acquired a new position in Lloyds Banking Group during the 4th quarter worth approximately $26,000. Finally, Johnson Investment Counsel Inc. acquired a new position in Lloyds Banking Group during the 3rd quarter worth approximately $27,000. 2.15% of the stock is currently owned by institutional investors and hedge funds.

About Lloyds Banking Group

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom and internationally. It operates in three segments: Retail; Commercial Banking; and Insurance, Pensions and Investments. The Retail segment offers a range of financial service products, including current accounts, savings, mortgages, motor finance, unsecured loans, leasing solutions, and credit cards to personal customers.