Lloyds Banking Group (NYSE:LYG) Reaches New 1-Year High at $3.13

Shares of Lloyds Banking Group plc (NYSE:LYG) reached a new 52-week high on Friday . The stock traded as high as $3.13 and last traded at $3.12, with a volume of 6759215 shares traded. The stock had previously closed at $3.04.

Analyst Ratings Changes

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

Lloyds Banking Group Trading Up 2.6 %

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 stock has a market capitalization of $48.76 billion, a P/E ratio of 8.13 and a beta of 1.35. The stock has a 50-day moving average price of $2.91 and a two-hundred day moving average price of $2.66.

Lloyds Banking Group (NYSE:LYG) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.09 earnings per share for the quarter. Lloyds Banking Group had a net margin of 12.40% and a return on equity of 10.34%. The business had revenue of $9.55 billion for the quarter. On average, research analysts forecast that Lloyds Banking Group plc will post 0.32 EPS for the current fiscal year.

Lloyds Banking Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, September 20th. Shareholders of record on Monday, August 5th will be issued a $0.0546 dividend. The ex-dividend date is Monday, August 5th. This is a positive change from Lloyds Banking Group’s previous semi-annual dividend of $0.05. This represents a yield of 4.4%. Lloyds Banking Group’s dividend payout ratio (DPR) is 26.32%.

Institutional Investors Weigh In On Lloyds Banking Group

Hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers boosted its stake in Lloyds Banking Group by 0.5% during the second quarter. Cetera Investment Advisers now owns 1,221,301 shares of the financial services provider’s stock worth $3,334,000 after acquiring an additional 6,381 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Lloyds Banking Group by 22.9% during the second quarter. Truist Financial Corp now owns 389,410 shares of the financial services provider’s stock valued at $1,063,000 after purchasing an additional 72,477 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in shares of Lloyds Banking Group in the 2nd quarter worth approximately $69,000. Wallace Advisory Group LLC bought a new position in Lloyds Banking Group during the 2nd quarter valued at approximately $59,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Lloyds Banking Group by 25.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 106,165 shares of the financial services provider’s stock valued at $290,000 after buying an additional 21,709 shares during the last quarter. 2.15% of the stock is currently owned by institutional investors.

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.