Lloyds Banking Group PLC (NYSE:LYG) Short Interest Update

Lloyds Banking Group PLC (NYSE:LYG) was the recipient of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 1,659,386 shares, a decrease of 49.3% from the July 15th total of 3,270,365 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 17,259,911 shares, the days-to-cover ratio is currently 0.1 days.

Lloyds Banking Group Stock Performance

LYG stock traded up $0.01 on Friday, reaching $6.21. The company’s stock had a trading volume of 5,368,129 shares, compared to its average volume of 14,889,677. Lloyds Banking Group has a 52 week low of $4.20 and a 52 week high of $6.34. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.52 and a quick ratio of 0.56. The company has a market capitalization of $90.32 billion, a P/E ratio of 14.45, a price-to-earnings-growth ratio of 0.63 and a beta of 0.87. The firm has a fifty day moving average of $5.90 and a two-hundred day moving average of $5.60.

Lloyds Banking Group (NYSE:LYG) last announced its earnings results on Thursday, July 30th. The financial services provider reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). Lloyds Banking Group had a net margin of 24.97% and a return on equity of 10.94%. The business had revenue of $6.57 billion for the quarter, compared to the consensus estimate of $6.86 billion. As a group, analysts predict that Lloyds Banking Group will post 0.55 EPS for the current fiscal year.

Lloyds Banking Group Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, September 25th. Investors of record on Monday, August 10th will be issued a $0.084 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a yield of 273.0%. Lloyds Banking Group’s dividend payout ratio is presently 37.21%.

Institutional Trading of Lloyds Banking Group

A number of hedge funds and other institutional investors have recently made changes to their positions in LYG. Tucker Asset Management LLC acquired a new stake in shares of Lloyds Banking Group in the 4th quarter worth approximately $27,000. Cornerstone Planning Group LLC increased its stake in shares of Lloyds Banking Group by 131.2% during the first quarter. Cornerstone Planning Group LLC now owns 5,137 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 2,915 shares during the period. Harbour Investments Inc. raised its holdings in Lloyds Banking Group by 47.3% during the fourth quarter. Harbour Investments Inc. now owns 6,386 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 2,051 shares in the last quarter. Manchester Capital Management LLC lifted its position in Lloyds Banking Group by 1,216.6% in the fourth quarter. Manchester Capital Management LLC now owns 8,163 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 7,543 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its stake in Lloyds Banking Group by 149.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 9,523 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 5,707 shares in the last quarter. 2.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on LYG shares. Citigroup restated a “buy” rating on shares of Lloyds Banking Group in a research note on Thursday, July 16th. Wall Street Zen downgraded Lloyds Banking Group from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Berenberg Bank initiated coverage on Lloyds Banking Group in a research note on Wednesday, June 24th. They set a “hold” rating for the company. Morgan Stanley reaffirmed an “overweight” rating on shares of Lloyds Banking Group in a research report on Tuesday, June 30th. Finally, UBS Group raised shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Thursday, April 30th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Lloyds Banking Group presently has a consensus rating of “Moderate Buy”.

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.