Lloyds Banking Group (NYSE:LYG) Stock Rating Lowered by Wall Street Zen

Lloyds Banking Group (NYSE:LYG) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

Other analysts have also recently issued reports about the company. Kepler Capital Markets raised Lloyds Banking Group from a “hold” rating to a “buy” rating in a report on Thursday, October 9th. Keefe, Bruyette & Woods raised Lloyds Banking Group from a “hold” rating to a “moderate buy” rating in a report on Thursday, July 17th. Weiss Ratings cut Lloyds Banking Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised Lloyds Banking Group from an “underweight” rating to a “neutral” rating in a report on Friday, August 1st. Finally, The Goldman Sachs Group raised Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Lloyds Banking Group Stock Performance

LYG opened at $4.46 on Monday. Lloyds Banking Group has a 12-month low of $2.56 and a 12-month high of $4.69. The stock has a market cap of $66.03 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 0.63 and a beta of 1.02. The business has a 50 day moving average of $4.49 and a 200-day moving average of $4.21. The company has a quick ratio of 0.53, a current ratio of 1.44 and a debt-to-equity ratio of 1.68.

Lloyds Banking Group (NYSE:LYG) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04. Lloyds Banking Group had a return on equity of 9.28% and a net margin of 17.51%.The company had revenue of $6.13 billion during the quarter, compared to analysts’ expectations of $4.86 billion. On average, equities research analysts expect that Lloyds Banking Group will post 0.27 earnings per share for the current year.

Hedge Funds Weigh In On Lloyds Banking Group

A number of institutional investors have recently modified their holdings of the business. Fiduciary Financial Group LLC raised its holdings in shares of Lloyds Banking Group by 18.7% during the 3rd quarter. Fiduciary Financial Group LLC now owns 15,110 shares of the financial services provider’s stock worth $69,000 after buying an additional 2,380 shares in the last quarter. Riversedge Advisors LLC raised its holdings in shares of Lloyds Banking Group by 10.5% during the 2nd quarter. Riversedge Advisors LLC now owns 25,680 shares of the financial services provider’s stock worth $109,000 after buying an additional 2,433 shares in the last quarter. Jackson Thornton Wealth Management LLC raised its holdings in shares of Lloyds Banking Group by 20.4% during the 1st quarter. Jackson Thornton Wealth Management LLC now owns 15,168 shares of the financial services provider’s stock worth $57,000 after buying an additional 2,573 shares in the last quarter. Drive Wealth Management LLC raised its holdings in shares of Lloyds Banking Group by 6.8% during the 2nd quarter. Drive Wealth Management LLC now owns 41,065 shares of the financial services provider’s stock worth $175,000 after buying an additional 2,599 shares in the last quarter. Finally, Brighton Jones LLC raised its holdings in shares of Lloyds Banking Group by 16.2% during the 2nd quarter. Brighton Jones LLC now owns 18,778 shares of the financial services provider’s stock worth $80,000 after buying an additional 2,613 shares in the last quarter. Institutional investors and hedge funds own 2.15% of the company’s stock.

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.