Lloyds Banking Group PLC (NYSE:LYG) Sees Large Growth in Short Interest

Lloyds Banking Group PLC (NYSE:LYG) was the recipient of a large growth in short interest in September. As of September 15th, there was short interest totaling 9,213,756 shares, a growth of 120.6% from the August 31st total of 4,176,386 shares. Based on an average trading volume of 14,519,336 shares, the short-interest ratio is presently 0.6 days. Approximately 0.1% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

LYG has been the topic of several research reports. Berenberg Bank began coverage on Lloyds Banking Group in a research report on Wednesday, June 24th. They set a “hold” rating on the stock. Keefe, Bruyette & Woods downgraded Lloyds Banking Group from a “moderate buy” rating to a “hold” rating in a report on Friday, July 17th. Weiss Ratings upgraded shares of Lloyds Banking Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 21st. Bank of America raised shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 1st. Finally, Citigroup reiterated a “buy” rating on shares of Lloyds Banking Group in a research note on Thursday, July 16th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

Institutional Investors Weigh In On Lloyds Banking Group

Institutional investors have recently modified their holdings of the business. United Capital Financial Advisors LLC boosted its position in shares of Lloyds Banking Group by 1.5% during the second quarter. United Capital Financial Advisors LLC now owns 126,671 shares of the financial services provider’s stock valued at $738,000 after buying an additional 1,841 shares during the last quarter. Fiduciary Financial Group LLC raised its position in Lloyds Banking Group by 11.7% in the 2nd quarter. Fiduciary Financial Group LLC now owns 18,028 shares of the financial services provider’s stock worth $105,000 after buying an additional 1,891 shares during the last quarter. Angeles Wealth Management LLC lifted its stake in Lloyds Banking Group by 5.1% during the 2nd quarter. Angeles Wealth Management LLC now owns 41,818 shares of the financial services provider’s stock valued at $244,000 after acquiring an additional 2,031 shares during the period. Harbour Investments Inc. boosted its holdings in shares of Lloyds Banking Group by 47.3% during the 4th quarter. Harbour Investments Inc. now owns 6,386 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 2,051 shares during the last quarter. Finally, Waverly Advisors LLC boosted its holdings in shares of Lloyds Banking Group by 20.8% during the 1st quarter. Waverly Advisors LLC now owns 12,423 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 2,138 shares during the last quarter. 2.15% of the stock is owned by hedge funds and other institutional investors.

Lloyds Banking Group Stock Up 2.2%

Shares of Lloyds Banking Group stock traded up $0.12 during midday trading on Friday, hitting $5.78. The company had a trading volume of 18,540,815 shares, compared to its average volume of 13,115,651. Lloyds Banking Group has a 52-week low of $4.42 and a 52-week high of $6.34. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.56 and a current ratio of 1.52. The stock has a market capitalization of $83.73 billion, a P/E ratio of 13.43, a P/E/G ratio of 0.58 and a beta of 0.87. The company has a 50 day moving average of $6.01 and a 200 day moving average of $5.64.

Lloyds Banking Group (NYSE:LYG) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). Lloyds Banking Group had a net margin of 24.97% and a return on equity of 10.94%. The company had revenue of $6.57 billion for the quarter, compared to analysts’ expectations of $6.86 billion. On average, equities analysts predict that Lloyds Banking Group will post 0.55 earnings per share for the current fiscal year.

Lloyds Banking Group Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, September 25th. Investors of record on Monday, August 10th were issued a $0.0840 dividend. This represents a yield of 273.0%. The ex-dividend date was Monday, August 10th. This is a decrease from Lloyds Banking Group’s previous dividend of $0.1340. Lloyds Banking Group’s dividend payout ratio (DPR) is presently 37.21%.

Lloyds Banking Group Company Profile

Lloyds Banking Group plc is a major United Kingdom financial services provider whose shares trade on the New York Stock Exchange under the symbol LYG. The group serves individuals, families, small businesses and larger commercial customers through a range of banking, lending, insurance, investment and wealth-management services.

Its principal brands include Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows. Products and services include current and savings accounts, mortgages, personal loans, credit cards, business banking, commercial lending, investment products, pensions and life insurance.