Lloyds Banking Group (NYSE:LYG) Hits New 1-Year High – Here’s What Happened

Lloyds Banking Group plc (NYSE:LYG)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $3.56 and last traded at $3.56, with a volume of 71166489 shares traded. The stock had previously closed at $3.40.

Wall Street Analyst Weigh In

Separately, Morgan Stanley downgraded shares of Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $2.75.

Lloyds Banking Group Stock Performance

The business has a 50-day moving average of $2.94 and a 200 day moving average of $2.94. The stock has a market cap of $53.99 billion, a PE ratio of 10.77 and a beta of 1.31.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings results on Thursday, February 20th. The financial services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). Lloyds Banking Group had a return on equity of 8.46% and a net margin of 11.45%. The firm had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $4.76 billion. Equities analysts expect that Lloyds Banking Group plc will post 0.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Lloyds Banking Group

Several hedge funds have recently made changes to their positions in the business. Crux Wealth Advisors purchased a new position in Lloyds Banking Group during the fourth quarter worth about $28,000. Focus Partners Wealth acquired a new position in shares of Lloyds Banking Group during the 4th quarter valued at about $31,000. Aletheian Wealth Advisors LLC purchased a new position in shares of Lloyds Banking Group during the 3rd quarter worth about $34,000. Brentview Investment Management LLC acquired a new stake in shares of Lloyds Banking Group in the fourth quarter worth approximately $31,000. Finally, Mesirow Financial Investment Management Inc. purchased a new stake in Lloyds Banking Group in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 2.15% of the company’s stock.

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.