Lloyds Banking Group (NYSE:LYG) Lowered to “Hold” Rating by Keefe, Bruyette & Woods

Lloyds Banking Group (NYSE:LYG) was downgraded by equities research analysts at Keefe, Bruyette & Woods from a “moderate buy” rating to a “hold” rating in a research note issued to investors on Friday,Zacks.com reports.

Several other equities analysts have also recently issued reports on LYG. UBS Group upgraded shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research report on Thursday, April 30th. Citigroup reissued a “buy” rating on shares of Lloyds Banking Group in a research note on Thursday. Weiss Ratings downgraded Lloyds Banking Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Wall Street Zen lowered Lloyds Banking Group from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Finally, Berenberg Bank initiated coverage on Lloyds Banking Group in a report on Wednesday, June 24th. They set a “hold” rating on the stock. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Lloyds Banking Group Stock Performance

NYSE:LYG opened at $5.97 on Friday. The stock’s 50-day moving average is $5.59 and its 200-day moving average is $5.50. Lloyds Banking Group has a 1-year low of $4.05 and a 1-year high of $6.34. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.09. The stock has a market cap of $87.38 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 0.62 and a beta of 0.87.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Tucker Asset Management LLC acquired a new stake in shares of Lloyds Banking Group during the fourth quarter worth $27,000. Cornerstone Planning Group LLC lifted its holdings in Lloyds Banking Group by 131.2% in the first quarter. Cornerstone Planning Group LLC now owns 5,137 shares of the financial services provider’s stock valued at $27,000 after buying an additional 2,915 shares during the period. Harbour Investments Inc. boosted its position in Lloyds Banking Group by 47.3% during the fourth 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. Eagle Bay Advisors LLC bought a new stake in Lloyds Banking Group during the fourth quarter valued at $35,000. Finally, Manchester Capital Management LLC grew its holdings in Lloyds Banking Group by 1,216.6% during the 4th quarter. Manchester Capital Management LLC now owns 8,163 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 7,543 shares during the period. 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.