Lloyds Banking Group (NYSE:LYG) Hits New 1-Year High – Should You Buy?

Lloyds Banking Group PLC (NYSE:LYG)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $6.02 and last traded at $6.04, with a volume of 8711007 shares changing hands. The stock had previously closed at $5.92.

Wall Street Analysts Forecast Growth

LYG has been the subject of several analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Lloyds Banking Group in a report on Wednesday. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Lloyds Banking Group in a research note on Tuesday, October 28th. Kepler Capital Markets upgraded Lloyds Banking Group from a “hold” rating to a “buy” rating in a report on Thursday, October 9th. BNP Paribas Exane lowered Lloyds Banking Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Lloyds Banking Group in a research note on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy”.

Lloyds Banking Group Stock Up 1.8%

The stock has a market capitalization of $89.51 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 0.70 and a beta of 0.87. The stock has a fifty day moving average of $5.32 and a 200-day moving average of $4.80.

Lloyds Banking Group (NYSE:LYG) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. Lloyds Banking Group had a return on equity of 10.06% and a net margin of 24.30%.The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.52 billion. Equities research analysts expect that Lloyds Banking Group PLC will post 0.27 EPS for the current year.

Lloyds Banking Group Dividend Announcement

The firm also recently declared a dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, April 10th will be paid a $0.134 dividend. The ex-dividend date is Friday, April 10th. This represents a yield of 447.0%. Lloyds Banking Group’s dividend payout ratio (DPR) is currently 30.95%.

Institutional Investors Weigh In On Lloyds Banking Group

Several institutional investors have recently added to or reduced their stakes in the business. True Wealth Design LLC acquired a new stake in shares of Lloyds Banking Group during the third quarter worth about $25,000. Salomon & Ludwin LLC raised its stake in Lloyds Banking Group by 2,671.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 5,959 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 5,744 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of Lloyds Banking Group by 115.2% during the 3rd quarter. Private Trust Co. NA now owns 6,092 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 3,261 shares during the period. Westside Investment Management Inc. raised its stake in Lloyds Banking Group by 100.0% during the third quarter. Westside Investment Management Inc. now owns 6,406 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 3,203 shares during the period. Finally, Concord Wealth Partners raised its holdings in shares of Lloyds Banking Group by 124.9% during the 3rd quarter. Concord Wealth Partners now owns 7,203 shares of the financial services provider’s stock valued at $33,000 after buying an additional 4,000 shares during the period. Hedge funds and other institutional investors 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.