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

Lloyds Banking Group PLC (NYSE:LYG) was the recipient of a large decrease in short interest in June. As of June 15th, there was short interest totaling 3,838,506 shares, a decrease of 44.7% from the May 31st total of 6,943,194 shares. Based on an average trading volume of 31,509,695 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the company’s stock are sold short.

Analyst Ratings Changes

Several equities research analysts recently weighed in on LYG shares. UBS Group raised Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research note on Thursday, April 30th. Wall Street Zen upgraded shares of Lloyds Banking Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Citigroup reiterated a “buy” rating on shares of Lloyds Banking Group in a research note on Thursday, April 30th. Weiss Ratings lowered shares of Lloyds Banking Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Lloyds Banking Group in a report on Tuesday. Seven equities 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 company currently has a consensus rating of “Moderate Buy”.

Hedge Funds Weigh In On Lloyds Banking Group

Several large investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its stake in Lloyds Banking Group by 17.6% in the 1st quarter. Parallel Advisors LLC now owns 70,747 shares of the financial services provider’s stock worth $356,000 after buying an additional 10,590 shares in the last quarter. Glenmede Trust Co. NA grew its stake in Lloyds Banking Group by 156.5% during the 1st quarter. Glenmede Trust Co. NA now owns 313,887 shares of the financial services provider’s stock valued at $1,579,000 after acquiring an additional 191,523 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Lloyds Banking Group by 30.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 109,264 shares of the financial services provider’s stock worth $550,000 after purchasing an additional 25,222 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Lloyds Banking Group by 12.0% in the first quarter. Royal Bank of Canada now owns 1,202,823 shares of the financial services provider’s stock valued at $6,050,000 after purchasing an additional 128,775 shares during the period. Finally, Empowered Funds LLC increased its holdings in shares of Lloyds Banking Group by 18.4% during the 1st quarter. Empowered Funds LLC now owns 301,065 shares of the financial services provider’s stock worth $1,514,000 after buying an additional 46,738 shares during the last quarter. Hedge funds and other institutional investors own 2.15% of the company’s stock.

Lloyds Banking Group Stock Up 2.8%

Lloyds Banking Group stock traded up $0.17 during trading hours on Thursday, hitting $6.07. The stock had a trading volume of 19,618,112 shares, compared to its average volume of 20,969,154. The stock’s 50-day moving average price is $5.43 and its 200-day moving average price is $5.44. The stock has a market capitalization of $88.70 billion, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 0.59 and a beta of 0.87. Lloyds Banking Group has a 12-month low of $4.05 and a 12-month high of $6.34. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.09.

Lloyds Banking Group (NYSE:LYG) last announced its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $0.13 earnings per share for the quarter. Lloyds Banking Group had a net margin of 25.11% and a return on equity of 10.63%. The company had revenue of $6.87 billion during the quarter. Equities research analysts anticipate that Lloyds Banking Group will post 0.53 EPS for the current fiscal year.

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.