Lloyds Banking Group (NYSE:LYG) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Lloyds Banking Group (NYSE:LYG) from a hold rating to a buy rating in a research report sent to investors on Saturday.

A number of other equities analysts also recently commented on LYG. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Lloyds Banking Group in a research note on Tuesday, February 3rd. UBS Group raised shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research note on Thursday. Citigroup reiterated a “buy” rating on shares of Lloyds Banking Group in a research report on Thursday. Finally, Weiss Ratings upgraded shares of Lloyds Banking Group from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, February 17th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Lloyds Banking Group has a consensus rating of “Moderate Buy”.

Lloyds Banking Group Price Performance

Shares of LYG stock opened at $5.37 on Friday. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.56 and a quick ratio of 1.48. The firm’s 50-day moving average is $5.33 and its two-hundred day moving average is $5.24. Lloyds Banking Group has a 12 month low of $3.74 and a 12 month high of $6.34. The company has a market capitalization of $79.05 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 0.56 and a beta of 0.88.

Lloyds Banking Group (NYSE:LYG) last issued its earnings results on Tuesday, March 31st. The financial services provider reported $0.13 EPS for the quarter. Lloyds Banking Group had a net margin of 25.11% and a return on equity of 10.63%. The company had revenue of $6.87 billion for the quarter. Analysts predict that Lloyds Banking Group will post 0.53 earnings per share for the current year.

Hedge Funds Weigh In On Lloyds Banking Group

Several hedge funds have recently bought and sold shares of LYG. Mondrian Investment Partners LTD acquired a new position in Lloyds Banking Group during the 3rd quarter worth about $285,004,000. CIBC Bancorp USA Inc. acquired a new position in shares of Lloyds Banking Group in the third quarter valued at approximately $63,928,000. Janney Montgomery Scott LLC grew its holdings in shares of Lloyds Banking Group by 2,413.7% in the first quarter. Janney Montgomery Scott LLC now owns 3,113,464 shares of the financial services provider’s stock valued at $15,661,000 after purchasing an additional 2,989,604 shares in the last quarter. UBS Group AG grew its holdings in shares of Lloyds Banking Group by 53.9% in the third quarter. UBS Group AG now owns 6,614,695 shares of the financial services provider’s stock valued at $30,031,000 after purchasing an additional 2,317,927 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Lloyds Banking Group by 178.3% in the second quarter. Jane Street Group LLC now owns 2,261,115 shares of the financial services provider’s stock valued at $9,610,000 after purchasing an additional 1,448,691 shares in the last quarter. Institutional investors and hedge funds own 2.15% of the company’s stock.

Lloyds Banking Group Company Profile

Lloyds Banking Group plc is a UK-based banking and financial services company that provides a broad range of retail, commercial and insurance products. Its principal consumer-facing brands include Lloyds Bank, Halifax and Bank of Scotland, through which it offers current accounts, savings, mortgages, credit cards and personal loans. The group also delivers services to small and medium-sized enterprises (SMEs) and larger corporate clients, supplying business accounts, lending, payments and cash-management solutions.

In addition to core banking, Lloyds operates a significant wealth and insurance arm under the Scottish Widows brand, offering life insurance, pensions, investment and retirement planning products.