Lloyds Banking Group (LYG) Shares Gap Up to $3.29

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Shares of Lloyds Banking Group PLC (NYSE:LYG) gapped up prior to trading on Thursday . The stock had previously closed at $3.22, but opened at $3.29. Lloyds Banking Group shares last traded at $3.34, with a volume of 4969627 shares changing hands.

Several brokerages recently issued reports on LYG. Zacks Investment Research lowered shares of Lloyds Banking Group from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. Morgan Stanley upgraded shares of Lloyds Banking Group from an “equal” rating to a “weight” rating in a report on Monday, February 11th. Goldman Sachs Group upgraded shares of Lloyds Banking Group from a “sell” rating to a “neutral” rating in a report on Monday. Finally, Keefe, Bruyette & Woods upgraded shares of Lloyds Banking Group from an “underperform” rating to an “outperform” rating in a report on Thursday, January 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Lloyds Banking Group has an average rating of “Buy” and an average price target of $3.50.

The stock has a market cap of $59.28 billion, a price-to-earnings ratio of 6.07 and a beta of 1.03. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 2.17.

The company also recently announced a semiannual dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, April 5th will be given a $0.1119 dividend. This represents a yield of 7.02%. The ex-dividend date is Thursday, April 4th. Lloyds Banking Group’s dividend payout ratio is currently 20.00%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LYG. Enlightenment Research LLC acquired a new position in Lloyds Banking Group in the 4th quarter valued at about $25,000. Western Wealth Management LLC acquired a new position in Lloyds Banking Group in the 4th quarter valued at about $27,000. Lavaca Capital LLC acquired a new position in Lloyds Banking Group in the 4th quarter valued at about $28,000. SNS Financial Group LLC acquired a new position in Lloyds Banking Group in the 4th quarter valued at about $33,000. Finally, Moloney Securities Asset Management LLC acquired a new position in Lloyds Banking Group in the 4th quarter valued at about $38,000. 1.91% of the stock is owned by institutional investors.

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About Lloyds Banking Group (NYSE:LYG)

Lloyds Banking Group plc provides banking and financial services under the Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows brands in the United Kingdom and internationally. The company operates through three segments: Retail, Commercial Banking, and Insurance and Wealth. The Retail segment offers a range of financial service products, including current accounts, savings accounts, mortgages, motor finance, and unsecured consumer lending products to personal and small business customers.

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