HSBC Reiterates “GBX 58” Price Target for Lloyds Banking Group (LON:LLOY)

HSBC set a GBX 58 ($0.76) target price on Lloyds Banking Group (LON:LLOY) in a report released on Tuesday morning, Borsen Zeitung reports. The firm currently has a neutral rating on the financial services provider’s stock.

LLOY has been the subject of several other research reports. Bank of America reiterated an underperform rating and issued a GBX 55 ($0.72) price objective on shares of Lloyds Banking Group in a research report on Tuesday, May 21st. Royal Bank of Canada reiterated a buy rating on shares of OceanaGold in a research report on Friday, July 5th. Goldman Sachs Group upgraded Lenovo Group from a neutral rating to a buy rating in a research report on Thursday, May 23rd. They noted that the move was a valuation call. Shore Capital reiterated a house stock rating on shares of WM Morrison Supermarkets in a research report on Wednesday, May 1st. Finally, Jefferies Financial Group cut their price objective on Seres Therapeutics from $6.00 to $4.00 and set a hold rating for the company in a research report on Monday, July 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. The stock has an average rating of Buy and a consensus price target of GBX 70.69 ($0.92).

Shares of LLOY opened at GBX 58.17 ($0.76) on Tuesday. The company has a fifty day simple moving average of GBX 57.72. Lloyds Banking Group has a 52-week low of GBX 49.52 ($0.65) and a 52-week high of GBX 66.79 ($0.87). The company has a market cap of $41.14 billion and a P/E ratio of 10.58.

In related news, insider Antonio Horta-Osorio sold 374,554 shares of Lloyds Banking Group stock in a transaction on Thursday, June 27th. The stock was sold at an average price of GBX 57 ($0.74), for a total transaction of £213,495.78 ($278,970.05). Also, insider Stuart Sinclair acquired 362,664 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were bought at an average cost of GBX 61 ($0.80) per share, with a total value of £221,225.04 ($289,069.70).

About Lloyds Banking Group

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. It 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, unsecured consumer loans, leasing solutions, and credit cards to personal and small business customers.

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