Lloyds Banking Group (NYSE:LYG) Hits New 12-Month High – Still a Buy?

Shares of Lloyds Banking Group plc (NYSE:LYG) reached a new 52-week high on Tuesday . The stock traded as high as $3.81 and last traded at $3.67, with a volume of 45972110 shares trading hands. The stock had previously closed at $3.75.

Lloyds Banking Group Price Performance

The firm has a market capitalization of $55.74 billion, a PE ratio of 11.12 and a beta of 1.31. The business’s 50-day moving average price is $3.02 and its 200-day moving average price is $2.96.

Lloyds Banking Group (NYSE:LYG) last released its quarterly earnings results on Thursday, February 20th. The financial services provider reported $0.05 EPS for the quarter, missing the consensus estimate 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 company had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $4.76 billion. Equities analysts forecast that Lloyds Banking Group plc will post 0.27 earnings per share for the current year.

Lloyds Banking Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, April 11th will be issued a $0.1035 dividend. This is a boost from Lloyds Banking Group’s previous semi-annual dividend of $0.05. This represents a dividend yield of 4%. The ex-dividend date of this dividend is Friday, April 11th. Lloyds Banking Group’s dividend payout ratio (DPR) is currently 60.61%.

Hedge Funds Weigh In On Lloyds Banking Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Crux Wealth Advisors acquired a new stake in shares of Lloyds Banking Group in the 4th quarter worth approximately $28,000. Focus Partners Wealth purchased a new stake in shares of Lloyds Banking Group in the 4th quarter worth about $31,000. Brentview Investment Management LLC acquired a new stake in Lloyds Banking Group in the 4th quarter valued at about $31,000. Mesirow Financial Investment Management Inc. purchased a new position in Lloyds Banking Group during the 4th quarter valued at about $32,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Lloyds Banking Group during the 4th quarter worth approximately $34,000. 2.15% of the stock is owned by institutional investors and hedge funds.

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.