Lloyds Banking Group (NYSE:LYG) Downgraded to Market Perform Rating by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods downgraded shares of Lloyds Banking Group (NYSE:LYGFree Report) from an outperform rating to a market perform rating in a report released on Tuesday, Marketbeat reports.

Separately, Morgan Stanley upgraded Lloyds Banking Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, March 4th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2.75.

View Our Latest Report on Lloyds Banking Group

Lloyds Banking Group Stock Performance

Shares of Lloyds Banking Group stock opened at $3.54 on Tuesday. Lloyds Banking Group has a one year low of $2.42 and a one year high of $3.91. The company has a market cap of $53.69 billion, a price-to-earnings ratio of 10.71 and a beta of 1.25. The business’s 50 day moving average price is $3.15 and its 200 day moving average price is $2.99.

Lloyds Banking Group (NYSE:LYGGet Free Report) last announced its quarterly earnings data 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). 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. On average, analysts predict that Lloyds Banking Group will post 0.27 EPS for the current fiscal year.

Lloyds Banking Group Increases Dividend

The company also recently disclosed 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 is Friday, April 11th. This is an increase from Lloyds Banking Group’s previous semi-annual dividend of $0.05. Lloyds Banking Group’s payout ratio is currently 60.61%.

Institutional Investors Weigh In On Lloyds Banking Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Aegis Wealth Management LLC purchased a new stake in shares of Lloyds Banking Group in the 4th quarter valued at $269,000. Forum Financial Management LP raised its holdings in shares of Lloyds Banking Group by 35.6% in the 4th quarter. Forum Financial Management LP now owns 181,796 shares of the financial services provider’s stock valued at $494,000 after buying an additional 47,752 shares during the period. Continuum Advisory LLC raised its holdings in shares of Lloyds Banking Group by 5.0% in the 4th quarter. Continuum Advisory LLC now owns 95,882 shares of the financial services provider’s stock valued at $261,000 after buying an additional 4,585 shares during the period. Millennium Management LLC raised its holdings in shares of Lloyds Banking Group by 225.0% in the 4th quarter. Millennium Management LLC now owns 7,098,940 shares of the financial services provider’s stock valued at $19,309,000 after buying an additional 4,914,680 shares during the period. Finally, Logan Capital Management Inc. raised its holdings in shares of Lloyds Banking Group by 1.8% in the 4th quarter. Logan Capital Management Inc. now owns 1,078,041 shares of the financial services provider’s stock valued at $2,932,000 after buying an additional 18,584 shares during the period. Hedge funds and other institutional investors own 2.15% of the company’s stock.

About Lloyds Banking Group

(Get Free Report)

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.

Featured Stories

Analyst Recommendations for Lloyds Banking Group (NYSE:LYG)

Receive News & Ratings for Lloyds Banking Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lloyds Banking Group and related companies with MarketBeat.com's FREE daily email newsletter.