Lloyds Banking Group PLC (LYG) Upgraded at Credit Suisse Group

Credit Suisse Group upgraded shares of Lloyds Banking Group PLC (NYSE:LYG) from a neutral rating to an outperform rating in a research report released on Tuesday, MarketBeat.com reports.

Several other analysts have also commented on the company. Zacks Investment Research lowered Lloyds Banking Group PLC from a buy rating to a hold rating in a report on Saturday, September 2nd. Goldman Sachs Group, Inc. (The) reissued a sell rating on shares of Lloyds Banking Group PLC in a report on Wednesday, September 6th. ValuEngine raised Lloyds Banking Group PLC from a hold rating to a buy rating in a report on Tuesday, June 27th. Finally, BidaskClub lowered Lloyds Banking Group PLC from a hold rating to a sell rating in a report on Thursday, June 22nd. Six research analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. Lloyds Banking Group PLC currently has an average rating of Hold and an average price target of $4.00.

Shares of Lloyds Banking Group PLC (NYSE:LYG) traded up 0.700% on Tuesday, hitting $3.595. The company had a trading volume of 1,175,094 shares. The stock’s 50-day moving average is $3.50 and its 200 day moving average is $3.52. Lloyds Banking Group PLC has a 52 week low of $2.60 and a 52 week high of $3.87. The company has a market capitalization of $57.22 billion, a price-to-earnings ratio of 32.098 and a beta of 0.71.

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The company also recently announced a None dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, August 11th were given a $0.052 dividend. This represents a dividend yield of 2.98%. The ex-dividend date was Wednesday, August 9th. This is an increase from Lloyds Banking Group PLC’s previous None dividend of $0.05. Lloyds Banking Group PLC’s dividend payout ratio (DPR) is 100.00%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers purchased a new position in shares of Lloyds Banking Group PLC in the second quarter valued at approximately $1,829,000. Schafer Cullen Capital Management Inc. lifted its position in shares of Lloyds Banking Group PLC by 807.6% in the second quarter. Schafer Cullen Capital Management Inc. now owns 269,825 shares of the financial services provider’s stock valued at $952,000 after acquiring an additional 240,095 shares in the last quarter. Scotia Capital Inc. lifted its position in shares of Lloyds Banking Group PLC by 1,174.6% in the second quarter. Scotia Capital Inc. now owns 127,457 shares of the financial services provider’s stock valued at $450,000 after acquiring an additional 117,457 shares in the last quarter. M&R Capital Management Inc. lifted its position in shares of Lloyds Banking Group PLC by 0.4% in the second quarter. M&R Capital Management Inc. now owns 1,211,359 shares of the financial services provider’s stock valued at $4,119,000 after acquiring an additional 5,409 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in shares of Lloyds Banking Group PLC by 20.3% in the second quarter. Stifel Financial Corp now owns 196,603 shares of the financial services provider’s stock valued at $712,000 after acquiring an additional 33,146 shares in the last quarter. Institutional investors and hedge funds own 2.11% of the company’s stock.

About Lloyds Banking Group PLC

Lloyds Banking Group plc is a provider of financial services to individual and business customers in the United Kingdom. The Company’s main business activities are retail and commercial banking, general insurance, and long-term savings, protection and investment. The Company’s segments are Retail, Commercial Banking, Consumer Finance, Insurance and Other.

Analyst Recommendations for Lloyds Banking Group PLC (NYSE:LYG)

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