Lloyds Banking Group (NYSE:LYG) Hits New 12-Month High at $2.72

Lloyds Banking Group plc (NYSE:LYG) hit a new 52-week high during trading on Thursday . The company traded as high as $2.72 and last traded at $2.71, with a volume of 11303712 shares traded. The stock had previously closed at $2.67.

Analyst Ratings Changes

LYG has been the subject of several analyst reports. Berenberg Bank began coverage on shares of Lloyds Banking Group in a report on Thursday, April 25th. They set a “hold” rating and a $2.75 price target for the company. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Lloyds Banking Group in a report on Thursday. They set a “buy” rating for the company. Finally, Bank of America upgraded shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lloyds Banking Group has an average rating of “Hold” and a consensus price target of $52.55.

Lloyds Banking Group Trading Up 1.5 %

The company has a debt-to-equity ratio of 1.82, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a 50 day moving average of $2.54 and a 200 day moving average of $2.31. The firm has a market cap of $43.17 billion, a P/E ratio of 7.13, a PEG ratio of 1.09 and a beta of 1.29.

Lloyds Banking Group (NYSE:LYG) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.09 EPS for the quarter. Lloyds Banking Group had a return on equity of 10.35% and a net margin of 13.41%. The firm had revenue of $14.35 billion for the quarter. As a group, equities research analysts predict that Lloyds Banking Group plc will post 0.32 EPS for the current year.

Lloyds Banking Group Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, April 12th will be issued a $0.046 dividend. This represents a dividend yield of 5.9%. The ex-dividend date is Thursday, April 11th. Lloyds Banking Group’s dividend payout ratio is 47.37%.

Hedge Funds Weigh In On Lloyds Banking Group

Several hedge funds have recently made changes to their positions in the business. Bruce G. Allen Investments LLC grew its holdings in Lloyds Banking Group by 6.9% in the first quarter. Bruce G. Allen Investments LLC now owns 61,412 shares of the financial services provider’s stock worth $159,000 after purchasing an additional 3,986 shares during the period. Brookstone Capital Management raised its stake in Lloyds Banking Group by 12.1% during the first quarter. Brookstone Capital Management now owns 38,516 shares of the financial services provider’s stock valued at $100,000 after buying an additional 4,167 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Lloyds Banking Group by 21.7% in the first quarter. GAMMA Investing LLC now owns 24,976 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 4,455 shares during the last quarter. D Orazio & Associates Inc. increased its holdings in shares of Lloyds Banking Group by 42.4% during the first quarter. D Orazio & Associates Inc. now owns 15,481 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 4,607 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Lloyds Banking Group by 53.9% in the 1st quarter. Fifth Third Bancorp now owns 13,283 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 4,654 shares during the last quarter. 2.15% of the stock is owned by hedge funds and other institutional investors.

About Lloyds Banking Group

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom and internationally. It operates in three segments: Retail; Commercial Banking; and Insurance, Pensions and Investments. The Retail segment offers a range of financial service products, including current accounts, savings, mortgages, motor finance, unsecured loans, leasing solutions, and credit cards to personal customers.