Lloyds Banking Group (NYSE:LYG) Sees Large Volume Increase – Time to Buy?

Lloyds Banking Group PLC (NYSE:LYG) saw unusually-strong trading volume on Tuesday . Approximately 20,865,773 shares were traded during mid-day trading, an increase of 119% from the previous session’s volume of 9,523,434 shares.The stock last traded at $5.7050 and had previously closed at $5.88.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LYG. BNP Paribas Exane downgraded shares of Lloyds Banking Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Citigroup restated a “neutral” rating on shares of Lloyds Banking Group in a research report on Monday, December 1st. Morgan Stanley reiterated an “overweight” rating on shares of Lloyds Banking Group in a research report on Monday, November 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lloyds Banking Group in a report on Wednesday, January 28th. Finally, Wall Street Zen lowered shares of Lloyds Banking Group from a “buy” rating to a “hold” rating in a research report on Monday, October 20th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Lloyds Banking Group Stock Down 2.1%

The stock has a fifty day moving average of $5.45 and a two-hundred day moving average of $4.87. The stock has a market cap of $84.79 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 0.60 and a beta of 0.87.

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

Lloyds Banking Group Dividend Announcement

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

Institutional Investors Weigh In On Lloyds Banking Group

A number of institutional investors have recently modified their holdings of the business. True Wealth Design LLC bought a new stake in Lloyds Banking Group in the third quarter valued at $25,000. Salomon & Ludwin LLC raised its holdings in shares of Lloyds Banking Group by 2,671.6% during the third quarter. Salomon & Ludwin LLC now owns 5,959 shares of the financial services provider’s stock valued at $27,000 after buying an additional 5,744 shares during the last quarter. Tucker Asset Management LLC bought a new stake in Lloyds Banking Group during the 4th quarter valued at $27,000. Private Trust Co. NA grew its position in Lloyds Banking Group by 115.2% in the 3rd quarter. Private Trust Co. NA now owns 6,092 shares of the financial services provider’s stock valued at $28,000 after buying an additional 3,261 shares in the last quarter. Finally, Westside Investment Management Inc. raised its position in shares of Lloyds Banking Group by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 6,406 shares of the financial services provider’s stock worth $29,000 after buying an additional 3,203 shares in the last quarter. Institutional investors own 2.15% of the company’s stock.

About Lloyds Banking Group

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.