Lloyds Banking Group (NYSE:LYG) Sees Large Volume Increase – What’s Next?

Lloyds Banking Group plc (NYSE:LYG) shares saw unusually-high trading volume on Tuesday . Approximately 42,122,905 shares traded hands during trading, an increase of 164% from the previous session’s volume of 15,925,818 shares.The stock last traded at $3.55 and had previously closed at $3.40.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley cut shares of Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Lloyds Banking Group presently has a consensus rating of “Hold” and a consensus price target of $2.75.

Lloyds Banking Group Trading Up 3.7 %

The firm has a 50-day moving average of $2.92 and a 200 day moving average of $2.94. The stock has a market capitalization of $53.54 billion, a price-to-earnings ratio of 10.68 and a beta of 1.31.

Lloyds Banking Group (NYSE:LYG) last posted its quarterly earnings results on Thursday, February 20th. The financial services provider reported $0.05 EPS for the quarter, missing the consensus estimate 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%. As a group, research analysts forecast that Lloyds Banking Group plc will post 0.27 EPS for the current year.

Institutional Trading of Lloyds Banking Group

Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in shares of Lloyds Banking Group by 58.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,659,629 shares of the financial services provider’s stock valued at $20,778,000 after buying an additional 2,456,914 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Lloyds Banking Group during the third quarter worth approximately $1,035,000. US Bancorp DE raised its holdings in shares of Lloyds Banking Group by 36.6% in the third quarter. US Bancorp DE now owns 757,336 shares of the financial services provider’s stock valued at $2,363,000 after buying an additional 202,862 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Lloyds Banking Group by 20.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,055,584 shares of the financial services provider’s stock valued at $3,293,000 after buying an additional 180,178 shares during the last quarter. Finally, Raymond James & Associates raised its stake in shares of Lloyds Banking Group by 37.4% during the third quarter. Raymond James & Associates now owns 3,416,484 shares of the financial services provider’s stock worth $10,659,000 after buying an additional 929,478 shares during the last quarter. 2.15% of the stock is currently owned by institutional investors.

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.