Lloyds Banking Group PLC (NYSE:LYG) Sees Significant Growth in Short Interest

Lloyds Banking Group PLC (NYSE:LYG) was the recipient of a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 25,077,095 shares, an increase of 234.9% from the January 29th total of 7,488,333 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 30,121,420 shares, the days-to-cover ratio is currently 0.8 days. Based on an average daily volume of 30,121,420 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.2% of the shares of the stock are sold short.

Hedge Funds Weigh In On Lloyds Banking Group

Several large investors have recently made changes to their positions in LYG. L1 Capital Pty Ltd purchased a new stake in shares of Lloyds Banking Group in the 2nd quarter worth approximately $548,574,000. Mondrian Investment Partners LTD purchased a new stake in shares of Lloyds Banking Group in the third quarter worth $285,004,000. Fisher Asset Management LLC increased its holdings in shares of Lloyds Banking Group by 12.6% during the second quarter. Fisher Asset Management LLC now owns 148,828,623 shares of the financial services provider’s stock valued at $632,522,000 after acquiring an additional 16,705,846 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in Lloyds Banking Group in the 3rd quarter worth about $63,928,000. Finally, UBS Group AG increased its stake in Lloyds Banking Group by 53.9% during the 3rd quarter. UBS Group AG now owns 6,614,695 shares of the financial services provider’s stock valued at $30,031,000 after purchasing an additional 2,317,927 shares in the last quarter. 2.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LYG shares. Citigroup restated a “neutral” rating on shares of Lloyds Banking Group in a research report on Monday, December 1st. BNP Paribas Exane downgraded Lloyds Banking Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Lloyds Banking Group in a research report on Tuesday, February 3rd. Morgan Stanley reiterated an “overweight” rating on shares of Lloyds Banking Group in a research report on Monday, November 24th. Finally, Weiss Ratings upgraded shares of Lloyds Banking Group from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Lloyds Banking Group Trading Down 0.8%

Lloyds Banking Group stock traded down $0.05 during mid-day trading on Thursday, reaching $5.74. 4,753,332 shares of the company traded hands, compared to its average volume of 16,409,303. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.48 and a quick ratio of 1.48. Lloyds Banking Group has a 52-week low of $3.27 and a 52-week high of $6.34. The firm’s 50 day moving average price is $5.60 and its 200 day moving average price is $4.99. The firm has a market capitalization of $84.50 billion, a price-to-earnings ratio of 13.66, a P/E/G ratio of 0.57 and a beta of 0.87.

Lloyds Banking Group (NYSE:LYG) last posted its earnings results on Thursday, January 29th. The financial services provider reported $0.12 earnings per share for the quarter, topping 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 firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.52 billion. On average, analysts anticipate that Lloyds Banking Group will post 0.27 earnings per share for the current fiscal year.

Lloyds Banking Group Announces Dividend

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

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.