Lloyds Banking Group (LON:LLOY) Price Target Cut to GBX 30

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Lloyds Banking Group (LON:LLOY) had its price target decreased by analysts at Berenberg Bank from GBX 35 ($0.43) to GBX 30 ($0.37) in a report released on Friday, Borsen Zeitung reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Berenberg Bank’s price objective suggests a potential upside of 14.13% from the stock’s previous close.

Several other research analysts have also issued reports on the company. UBS Group reiterated a “buy” rating on shares of Lloyds Banking Group in a report on Monday, July 27th. Morgan Stanley reissued a “buy” rating and issued a GBX 45 ($0.55) price objective on shares of Lloyds Banking Group in a research note on Friday, July 24th. HSBC set a GBX 43 ($0.53) price objective on Lloyds Banking Group and gave the stock a “buy” rating in a research note on Friday, May 22nd. JPMorgan Chase & Co. set a GBX 45 ($0.55) price objective on Lloyds Banking Group and gave the stock a “neutral” rating in a research note on Thursday. Finally, Deutsche Bank reissued a “hold” rating on shares of Lloyds Banking Group in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of GBX 45.21 ($0.56).

Shares of LON:LLOY opened at GBX 26.29 ($0.32) on Friday. The business’s 50 day simple moving average is GBX 31.08 and its two-hundred day simple moving average is GBX 38.70. The firm has a market cap of $18.60 billion and a P/E ratio of 11.43. Lloyds Banking Group has a 52-week low of GBX 0.30 ($0.00) and a 52-week high of GBX 73.66 ($0.91).

In other Lloyds Banking Group news, insider James Lupton purchased 1,000,000 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was bought at an average cost of GBX 26 ($0.32) per share, with a total value of £260,000 ($319,960.62). Insiders have purchased 1,001,226 shares of company stock valued at $26,040,040 over the last ninety days.

Lloyds Banking Group Company Profile

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. It 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, unsecured consumer loans, leasing solutions, and credit cards to personal and small business customers.

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Analyst Recommendations for Lloyds Banking Group (LON:LLOY)

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