Lloyds Banking Group (LON:LLOY) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Lloyds Banking Group plc (LON:LLOY) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 77.96 ($1.04) and traded as high as GBX 86.54 ($1.15). Lloyds Banking Group shares last traded at GBX 85.46 ($1.14), with a volume of 262,639,094 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have commented on LLOY. Keefe, Bruyette & Woods restated an “outperform” rating and issued a GBX 93 target price on shares of Lloyds Banking Group in a research note on Friday, October 10th. JPMorgan Chase & Co. boosted their target price on Lloyds Banking Group from GBX 85 to GBX 98 and gave the company a “neutral” rating in a research note on Tuesday, September 9th. Royal Bank Of Canada upgraded Lloyds Banking Group to an “outperform” rating and set a GBX 95 target price on the stock in a research note on Monday, August 4th. Shore Capital restated a “hold” rating on shares of Lloyds Banking Group in a research note on Thursday. Finally, Jefferies Financial Group boosted their target price on Lloyds Banking Group from GBX 103 to GBX 105 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Lloyds Banking Group presently has an average rating of “Moderate Buy” and a consensus price target of GBX 90.33.

Lloyds Banking Group Stock Performance

The company has a market cap of £50.34 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.84 and a beta of 1.23. The firm has a 50 day moving average price of GBX 82.82 and a 200-day moving average price of GBX 77.96.

Lloyds Banking Group (LON:LLOY) last released its quarterly earnings results on Thursday, October 23rd. The financial services provider reported GBX 1 earnings per share (EPS) for the quarter. Lloyds Banking Group had a return on equity of 11.22% and a net margin of 16.66%. On average, sell-side analysts forecast that Lloyds Banking Group plc will post 7.3199528 EPS for the current fiscal year.

Insider Buying and Selling

In other Lloyds Banking Group news, insider William Chalmers acquired 138,723 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The stock was acquired at an average price of GBX 84 per share, with a total value of £116,527.32. Also, insider Charlie Nunn acquired 217,494 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The shares were acquired at an average cost of GBX 84 per share, with a total value of £182,694.96. In the last 90 days, insiders acquired 436,717 shares of company stock valued at $36,562,228. Insiders own 0.16% of the company’s stock.

About Lloyds Banking Group

We are the largest UK retail and commercial financial services provider with over 25 million customers and a presence in nearly every community.

The Group’s main business activities are retail and commercial banking, general insurance and long-term savings, provided through the largest branch network and digital bank in the UK, with well recognised brands including Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows.

Our shares are quoted on the London and New York stock exchanges and we are one of the largest companies in the FTSE 100 index.