Lloyds Banking Group (LYG) Shares Gap Up to $3.29
Lloyds Banking Group PLC (NYSE:LYG) gapped up prior to trading on Thursday . The stock had previously closed at $3.22, but opened at $3.29. Lloyds Banking Group shares last traded at $3.34, with a volume of 4969627 shares trading hands.
LYG has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Lloyds Banking Group from a “hold” rating to a “sell” rating in a research note on Tuesday, December 4th. Goldman Sachs Group reissued a “sell” rating on shares of Lloyds Banking Group in a research note on Thursday, December 20th. Citigroup raised shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research note on Friday, January 4th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Lloyds Banking Group in a research note on Tuesday, January 22nd. Finally, Keefe, Bruyette & Woods raised shares of Lloyds Banking Group from an “underperform” rating to an “outperform” rating in a research note on Thursday, January 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $3.50.
The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 2.17. The firm has a market cap of $59.28 billion, a price-to-earnings ratio of 6.07 and a beta of 1.03.
A number of hedge funds have recently made changes to their positions in LYG. Enlightenment Research LLC purchased a new position in Lloyds Banking Group in the 4th quarter valued at $25,000. Western Wealth Management LLC purchased a new position in Lloyds Banking Group in the 4th quarter valued at $27,000. Lavaca Capital LLC purchased a new position in Lloyds Banking Group in the 4th quarter valued at $28,000. SNS Financial Group LLC purchased a new position in Lloyds Banking Group in the 4th quarter valued at $33,000. Finally, Moloney Securities Asset Management LLC purchased a new position in Lloyds Banking Group in the 4th quarter valued at $38,000. Institutional investors own 1.91% of the company’s stock.
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About Lloyds Banking Group (NYSE:LYG)
Lloyds Banking Group plc provides banking and financial services under the Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows brands in the United Kingdom and internationally. The company operates through three segments: Retail, Commercial Banking, and Insurance and Wealth. The Retail segment offers a range of financial service products, including current accounts, savings accounts, mortgages, motor finance, and unsecured consumer lending products to personal and small business customers.
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