Lloyds Banking Group (LYG) Rating Increased to Hold at Zacks Investment Research

Lloyds Banking Group (NYSE:LYG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

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. “

Several other analysts have also commented on the company. Goldman Sachs Group reaffirmed a “sell” rating on shares of Lloyds Banking Group in a report on Wednesday, September 6th. Credit Suisse Group raised Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a report on Tuesday, October 10th. UBS reaffirmed a “buy” rating on shares of Lloyds Banking Group in a report on Wednesday, November 29th. Macquarie lowered Lloyds Banking Group from a “neutral” rating to an “underperform” rating in a report on Wednesday, November 29th. Finally, BNP Paribas upgraded Lloyds Banking Group from an “underperform” rating to a “neutral” rating in a research report on Monday. Seven equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. Lloyds Banking Group presently has an average rating of “Hold” and a consensus price target of $4.00.

Shares of Lloyds Banking Group (NYSE:LYG) opened at $3.62 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 1.38 and a debt-to-equity ratio of 1.79. Lloyds Banking Group has a fifty-two week low of $3.06 and a fifty-two week high of $3.87. The company has a market capitalization of $65,490.30, a price-to-earnings ratio of 6.74 and a beta of 0.76.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. lifted its position in Lloyds Banking Group by 0.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 28,925 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 215 shares in the last quarter. Raymond James Trust N.A. lifted its position in Lloyds Banking Group by 1.5% during the second quarter. Raymond James Trust N.A. now owns 92,658 shares of the financial services provider’s stock valued at $328,000 after purchasing an additional 1,349 shares in the last quarter. Bank of Montreal Can lifted its position in Lloyds Banking Group by 9.0% during the second quarter. Bank of Montreal Can now owns 45,681 shares of the financial services provider’s stock valued at $161,000 after purchasing an additional 3,790 shares in the last quarter. M&R Capital Management Inc. lifted its position in Lloyds Banking Group by 0.4% during 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 purchasing an additional 5,409 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its position in Lloyds Banking Group by 10.9% during the second quarter. Eagle Asset Management Inc. now owns 89,666 shares of the financial services provider’s stock valued at $316,000 after purchasing an additional 8,788 shares in the last quarter. Institutional investors own 2.12% of the company’s stock.

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About Lloyds Banking Group

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 (NYSE:LYG)

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