Lloyds Banking Group (NYSE:LYG) Sees Large Volume Increase

Lloyds Banking Group plc (NYSE:LYG) shares saw unusually-strong trading volume on Wednesday . Approximately 18,941,332 shares traded hands during mid-day trading, an increase of 107% from the previous session’s volume of 9,150,507 shares.The stock last traded at $2.48 and had previously closed at $2.45.

Analyst Upgrades and Downgrades

Separately, Bank of America upgraded Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $64.17.

Lloyds Banking Group Trading Up 0.4 %

The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.48 and a current ratio of 1.48. The company has a 50-day simple moving average of $2.42 and a 200 day simple moving average of $2.25. The company has a market capitalization of $40.14 billion, a P/E ratio of 6.28, a P/E/G ratio of 1.03 and a beta of 1.32.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.11 EPS for the quarter. The company had revenue of $19.05 billion for the quarter. Lloyds Banking Group had a return on equity of 11.29% and a net margin of 17.97%. Sell-side analysts expect that Lloyds Banking Group plc will post 0.32 earnings per share for the current year.

Lloyds Banking Group Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, April 12th will be given a $0.046 dividend. This represents a yield of 5.9%. The ex-dividend date of this dividend is Thursday, April 11th. Lloyds Banking Group’s dividend payout ratio is currently 45.00%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Bruce G. Allen Investments LLC increased its position in shares of Lloyds Banking Group by 6.9% during the first quarter. Bruce G. Allen Investments LLC now owns 61,412 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 3,986 shares during the period. Brookstone Capital Management increased its position in shares of 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 purchasing an additional 4,167 shares during the period. GAMMA Investing LLC increased its position in shares of Lloyds Banking Group by 21.7% during the first quarter. GAMMA Investing LLC now owns 24,976 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 4,455 shares during the period. Advisory Services Network LLC increased its position in shares of Lloyds Banking Group by 5.7% during the first quarter. Advisory Services Network LLC now owns 87,891 shares of the financial services provider’s stock valued at $204,000 after purchasing an additional 4,744 shares during the period. Finally, Kestra Private Wealth Services LLC increased its position in shares of Lloyds Banking Group by 29.7% during the fourth quarter. Kestra Private Wealth Services LLC now owns 21,006 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 4,813 shares during the period. 2.15% of the stock is owned by 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.