Lloyds Banking Group (NYSE:LYG) Receives Buy Rating from Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft reaffirmed their buy rating on shares of Lloyds Banking Group (NYSE:LYG) in a report released on Friday, The Fly reports.

LYG has been the topic of several other reports. The Goldman Sachs Group downgraded shares of Lloyds Banking Group from a neutral rating to a sell rating in a report on Wednesday, August 4th. Credit Suisse Group reiterated an outperform rating on shares of Lloyds Banking Group in a report on Friday, July 30th. UBS Group reiterated a buy rating on shares of Lloyds Banking Group in a report on Monday, August 2nd. Barclays reiterated an overweight rating on shares of Lloyds Banking Group in a report on Tuesday, July 6th. Finally, Morgan Stanley reiterated an overweight rating on shares of Lloyds Banking Group in a report on Wednesday, September 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $2.75.

Shares of LYG opened at $2.32 on Friday. The company has a market cap of $41.17 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 0.17 and a beta of 1.53. Lloyds Banking Group has a 1-year low of $1.17 and a 1-year high of $2.83. The company’s fifty day simple moving average is $2.44 and its 200 day simple moving average is $2.48. The company has a current ratio of 1.47, a quick ratio of 1.13 and a debt-to-equity ratio of 1.83.

Lloyds Banking Group (NYSE:LYG) last issued its earnings results on Wednesday, July 28th. The financial services provider reported $0.14 earnings per share for the quarter. The firm had revenue of $5.62 billion for the quarter. As a group, research analysts forecast that Lloyds Banking Group will post 0.43 earnings per share for the current year.

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, September 23rd. Investors of record on Monday, August 9th will be paid a $0.0375 dividend. The ex-dividend date of this dividend is Friday, August 6th. This is an increase from Lloyds Banking Group’s previous semi-annual dividend of $0.03. This represents a dividend yield of 2.8%. Lloyds Banking Group’s dividend payout ratio is 58.33%.

Several hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley lifted its position in Lloyds Banking Group by 493.6% during the second quarter. Morgan Stanley now owns 13,779,953 shares of the financial services provider’s stock worth $35,139,000 after purchasing an additional 11,458,529 shares during the period. Bank of America Corp DE lifted its position in Lloyds Banking Group by 2,258.1% during the second quarter. Bank of America Corp DE now owns 5,742,156 shares of the financial services provider’s stock worth $14,643,000 after purchasing an additional 5,498,653 shares during the period. SG Americas Securities LLC lifted its position in Lloyds Banking Group by 27,749.9% during the second quarter. SG Americas Securities LLC now owns 4,141,554 shares of the financial services provider’s stock worth $10,561,000 after purchasing an additional 4,126,683 shares during the period. BlackRock Inc. lifted its position in Lloyds Banking Group by 72,599.5% during the first quarter. BlackRock Inc. now owns 3,187,873 shares of the financial services provider’s stock worth $7,396,000 after purchasing an additional 3,183,488 shares during the period. Finally, OLD Mission Capital LLC lifted its position in Lloyds Banking Group by 283.3% during the second quarter. OLD Mission Capital LLC now owns 3,442,139 shares of the financial services provider’s stock worth $8,777,000 after purchasing an additional 2,544,023 shares during the period. Institutional investors and hedge funds own 1.53% of the company’s stock.

Lloyds Banking Group Company Profile

Lloyds Banking Group Plc is a financial services company, which engages in the provision of a wide range of banking and financial services. It operates through the following segments: Retail, Commercial Banking, and Insurance and Wealth. The Retail segment offers broad range of financial service products, including current accounts, savings, mortgages, motor finance and unsecured consumer lending to personal and small business customers.

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