Lloyds Banking Group (LYG) Shares Gap Up to $3.03

Lloyds Banking Group PLC (NYSE:LYG) gapped up before the market opened on Friday . The stock had previously closed at $3.06, but opened at $3.03. Lloyds Banking Group shares last traded at $3.04, with a volume of 106980 shares traded.

Several equities research analysts recently weighed in on the company. Citigroup upgraded Lloyds Banking Group from a “sell” rating to a “neutral” rating in a research note on Thursday, August 2nd. Zacks Investment Research upgraded Lloyds Banking Group from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. Jefferies Financial Group restated a “buy” rating on shares of Lloyds Banking Group in a research note on Tuesday, August 14th. Berenberg Bank upgraded Lloyds Banking Group from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Lloyds Banking Group in a research note on Tuesday, September 4th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $4.25.

The company has a market cap of $51.71 billion, a price-to-earnings ratio of 5.53 and a beta of 0.83.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings data on Tuesday, July 31st. The financial services provider reported $0.16 earnings per share for the quarter. Lloyds Banking Group had a return on equity of 15.62% and a net margin of 15.05%. The company had revenue of $4.32 billion during the quarter. As a group, analysts anticipate that Lloyds Banking Group PLC will post 0.41 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of LYG. Fisher Asset Management LLC lifted its stake in Lloyds Banking Group by 2.5% in the second quarter. Fisher Asset Management LLC now owns 118,441,110 shares of the financial services provider’s stock valued at $394,409,000 after buying an additional 2,840,640 shares during the last quarter. Mondrian Investment Partners LTD lifted its stake in Lloyds Banking Group by 8.4% in the third quarter. Mondrian Investment Partners LTD now owns 16,884,206 shares of the financial services provider’s stock valued at $51,328,000 after buying an additional 1,308,000 shares during the last quarter. Cambiar Investors LLC lifted its stake in Lloyds Banking Group by 2.9% in the third quarter. Cambiar Investors LLC now owns 40,517,017 shares of the financial services provider’s stock valued at $123,172,000 after buying an additional 1,152,516 shares during the last quarter. BlackRock Inc. lifted its stake in Lloyds Banking Group by 16.3% in the first quarter. BlackRock Inc. now owns 7,000,698 shares of the financial services provider’s stock valued at $26,043,000 after buying an additional 981,581 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Lloyds Banking Group by 3.4% in the second quarter. Northern Trust Corp now owns 24,596,675 shares of the financial services provider’s stock valued at $81,907,000 after buying an additional 801,872 shares during the last quarter. Institutional investors own 2.54% of the company’s stock.

About Lloyds Banking Group (NYSE:LYG)

Lloyds Banking Group plc provides banking and financial services under the Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows brands in the United Kingdom and internationally. The company operates through three segments: Retail, Commercial Banking, and Insurance and Wealth. The Retail segment offers a range of financial service products, including current accounts, savings accounts, mortgages, motor finance, and unsecured consumer lending products to personal and small business customers.

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