Lloyds Banking Group (LON:LLOY) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Lloyds Banking Group plc (LON:LLOY) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 91.48 and traded as high as GBX 105.85. Lloyds Banking Group shares last traded at GBX 102, with a volume of 398,671,719 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Royal Bank Of Canada raised their target price on shares of Lloyds Banking Group from GBX 100 to GBX 110 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. UBS Group restated a “neutral” rating and set a GBX 103 price objective on shares of Lloyds Banking Group in a research note on Friday, January 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on Lloyds Banking Group to GBX 125 and set a “buy” rating for the company in a report on Tuesday, February 3rd. Citigroup increased their target price on Lloyds Banking Group from GBX 98 to GBX 106 and gave the stock a “neutral” rating in a report on Monday, February 2nd. Finally, Jefferies Financial Group restated a “buy” rating and issued a GBX 105 price target on shares of Lloyds Banking Group in a research report on Tuesday, October 28th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Lloyds Banking Group currently has an average rating of “Hold” and an average target price of GBX 107.78.

Lloyds Banking Group Price Performance

The firm’s 50-day simple moving average is GBX 101.60 and its 200 day simple moving average is GBX 91.48. The firm has a market capitalization of £61.28 billion, a price-to-earnings ratio of 15.09, a P/E/G ratio of 1.84 and a beta of 1.23.

Lloyds Banking Group (LON:LLOY) last issued its earnings results on Thursday, January 29th. The financial services provider reported GBX 7 earnings per share for the quarter. Lloyds Banking Group had a return on equity of 11.22% and a net margin of 16.66%. As a group, research analysts predict that Lloyds Banking Group plc will post 7.3199528 earnings per share for the current 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.