Lloyds Banking Group (LON:LLOY) Stock Crosses Above 200-Day Moving Average – Here’s Why

Lloyds Banking Group plc (LON:LLOY) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 101.10 and traded as high as GBX 112.52. Lloyds Banking Group shares last traded at GBX 111.70, with a volume of 92,091,547 shares changing hands.

Analysts Set New Price Targets

Several research firms recently weighed in on LLOY. Jefferies Financial Group restated a “buy” rating and set a GBX 125 price target on shares of Lloyds Banking Group in a research report on Wednesday, April 29th. JPMorgan Chase & Co. lowered their price objective on Lloyds Banking Group from GBX 171 to GBX 121 and set a “neutral” rating on the stock in a report on Monday, April 13th. Berenberg Bank reiterated a “hold” rating and set a GBX 117 price objective on shares of Lloyds Banking Group in a research note on Wednesday, June 24th. Citigroup increased their target price on Lloyds Banking Group from GBX 114 to GBX 123 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Shore Capital Group restated a “sell” rating on shares of Lloyds Banking Group in a research report on Thursday, April 30th. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of GBX 113.80.

Lloyds Banking Group Price Performance

The stock’s fifty day moving average price is GBX 103.04 and its 200-day moving average price is GBX 101.18. The firm has a market cap of £65.57 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 1.84 and a beta of 0.91.

Lloyds Banking Group (LON:LLOY) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported GBX 2.40 earnings per share for the quarter. Lloyds Banking Group had a net margin of 25.91% and a return on equity of 10.75%. The firm had revenue of GBX 478.50 billion for the quarter. On average, sell-side analysts anticipate that Lloyds Banking Group plc will post 7.3199528 earnings per share for the current fiscal year.

About Lloyds Banking Group

We are the largest UK retail and commercial financial services provider with over 25 million customers and a presence in nearly every community.

The Group’s main business activities are retail and commercial banking, general insurance and long-term savings, provided through the largest branch network and digital bank in the UK, with well recognised brands including Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows.

Our shares are quoted on the London and New York stock exchanges and we are one of the largest companies in the FTSE 100 index.