Lloyds Banking Group plc (NYSE:LYG) Short Interest Update

Lloyds Banking Group plc (NYSE:LYG) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totalling 9,770,000 shares, a decline of 21.8% from the July 15th total of 12,490,000 shares. Based on an average daily trading volume, of 9,630,000 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.1% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several analysts have recently weighed in on LYG shares. BNP Paribas upgraded shares of Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research report on Friday, July 5th. Royal Bank of Canada cut Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a research note on Friday, July 26th. UBS Group reissued a “neutral” rating on shares of Lloyds Banking Group in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft started coverage on Lloyds Banking Group in a research note on Thursday, May 9th. They issued a “buy” rating on the stock. Finally, Citigroup lowered Lloyds Banking Group from a “buy” rating to a “neutral” rating in a research note on Monday, August 5th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.38.

Lloyds Banking Group Stock Up 1.5 %

Shares of NYSE LYG traded up $0.04 during mid-day trading on Friday, hitting $3.02. 3,542,995 shares of the stock traded hands, compared to its average volume of 9,296,156. The stock has a fifty day moving average price of $2.88 and a 200-day moving average price of $2.63. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.48 and a current ratio of 1.45. The company has a market cap of $47.12 billion, a price-to-earnings ratio of 7.84 and a beta of 1.35. Lloyds Banking Group has a 52 week low of $1.88 and a 52 week high of $3.13.

Lloyds Banking Group (NYSE:LYG) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.09 EPS for the quarter. The business had revenue of $9.55 billion for the quarter. Lloyds Banking Group had a net margin of 12.40% and a return on equity of 10.34%. Research analysts anticipate that Lloyds Banking Group will post 0.32 EPS for the current year.

Lloyds Banking Group Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Friday, September 20th. Investors of record on Monday, August 5th will be paid a $0.0546 dividend. This is a boost from Lloyds Banking Group’s previous semi-annual dividend of $0.05. The ex-dividend date of this dividend is Monday, August 5th. This represents a yield of 4.4%. Lloyds Banking Group’s payout ratio is presently 26.32%.

Institutional Trading of Lloyds Banking Group

Several institutional investors have recently added to or reduced their stakes in LYG. Patriot Financial Group Insurance Agency LLC increased its holdings in Lloyds Banking Group by 2.8% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 135,436 shares of the financial services provider’s stock valued at $370,000 after buying an additional 3,752 shares during the last quarter. AMG National Trust Bank increased its stake in shares of Lloyds Banking Group by 0.4% in the 2nd quarter. AMG National Trust Bank now owns 1,001,075 shares of the financial services provider’s stock worth $2,733,000 after purchasing an additional 3,976 shares in the last quarter. Bruce G. Allen Investments LLC raised its holdings in Lloyds Banking Group by 6.9% in the 1st quarter. Bruce G. Allen Investments LLC now owns 61,412 shares of the financial services provider’s stock worth $159,000 after purchasing an additional 3,986 shares during the period. Brookstone Capital Management lifted its position in Lloyds Banking Group by 12.1% during the first quarter. Brookstone Capital Management now owns 38,516 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 4,167 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in Lloyds Banking Group by 7.3% during the second quarter. Sequoia Financial Advisors LLC now owns 61,586 shares of the financial services provider’s stock valued at $168,000 after purchasing an additional 4,194 shares during the period. 2.15% of the stock is currently owned by hedge funds and other institutional investors.

Lloyds Banking Group Company Profile

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.