Lloyds Banking Group (NYSE:LYG) Sees Strong Trading Volume – Should You Buy?

Lloyds Banking Group plc (NYSE:LYG) saw an uptick in trading volume on Tuesday . 29,735,002 shares traded hands during mid-day trading, an increase of 123% from the previous session’s volume of 13,338,895 shares.The stock last traded at $3.53 and had previously closed at $3.65.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods cut shares of Lloyds Banking Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Morgan Stanley raised shares of Lloyds Banking Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, March 4th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $2.75.

Lloyds Banking Group Price Performance

The company’s fifty day simple moving average is $3.13 and its 200-day simple moving average is $2.99. The firm has a market capitalization of $53.69 billion, a PE ratio of 10.71 and a beta of 1.25.

Lloyds Banking Group (NYSE:LYG) last issued its earnings results on Thursday, February 20th. The financial services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). The business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $4.76 billion. Lloyds Banking Group had a net margin of 11.45% and a return on equity of 8.46%. Analysts forecast that Lloyds Banking Group plc will post 0.27 earnings per share for the current year.

Lloyds Banking Group Increases Dividend

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

Institutional Trading of Lloyds Banking Group

Several large investors have recently added to or reduced their stakes in the stock. Crux Wealth Advisors acquired a new position in shares of Lloyds Banking Group during the 4th quarter valued at about $28,000. Brentview Investment Management LLC acquired a new position in Lloyds Banking Group in the 4th quarter valued at about $31,000. Focus Partners Wealth purchased a new stake in shares of Lloyds Banking Group in the 4th quarter valued at approximately $31,000. Mesirow Financial Investment Management Inc. purchased a new stake in shares of Lloyds Banking Group during the 4th quarter valued at approximately $32,000. Finally, SBI Securities Co. Ltd. acquired a new position in Lloyds Banking Group in the fourth quarter valued at approximately $34,000. 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.