Lloyds Banking Group (NYSE:LYG) Shares Gap Down – Time to Sell?
by Teresa Graham · The Cerbat GemLloyds Banking Group PLC (NYSE:LYG – Get Free Report)’s share price gapped down before the market opened on Monday . The stock had previously closed at $5.91, but opened at $5.62. Lloyds Banking Group shares last traded at $5.6850, with a volume of 2,225,567 shares.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on LYG shares. Weiss Ratings restated a “hold (c)” rating on shares of Lloyds Banking Group in a research report on Wednesday, January 28th. Royal Bank Of Canada restated an “outperform” rating on shares of Lloyds Banking Group in a report on Tuesday, October 28th. BNP Paribas Exane cut Lloyds Banking Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. Citigroup reissued a “neutral” rating on shares of Lloyds Banking Group in a report on Monday, December 1st. Finally, Wall Street Zen lowered shares of Lloyds Banking Group from a “buy” rating to a “hold” rating in a research report on Monday, October 20th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.
Get Our Latest Stock Analysis on LYG
Lloyds Banking Group Trading Down 1.3%
The firm’s 50 day moving average price is $5.46 and its 200-day moving average price is $4.88. The company has a market cap of $84.20 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 0.59 and a beta of 0.87.
Lloyds Banking Group (NYSE:LYG – Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.01. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.52 billion. Lloyds Banking Group had a net margin of 24.30% and a return on equity of 10.06%. Analysts predict that Lloyds Banking Group PLC will post 0.27 earnings per share for the current fiscal year.
Lloyds Banking Group Announces Dividend
The business also recently disclosed a dividend, which will be paid on Friday, May 29th. Investors of record on Friday, April 10th will be issued a $0.134 dividend. This represents a yield of 447.0%. The ex-dividend date is Friday, April 10th. Lloyds Banking Group’s dividend payout ratio is currently 30.95%.
Institutional Trading of Lloyds Banking Group
A number of hedge funds have recently modified their holdings of the company. Fisher Asset Management LLC grew its holdings in Lloyds Banking Group by 0.9% during the fourth quarter. Fisher Asset Management LLC now owns 151,258,982 shares of the financial services provider’s stock valued at $801,673,000 after purchasing an additional 1,300,718 shares during the period. L1 Capital Pty Ltd bought a new position in shares of Lloyds Banking Group during the second quarter worth $548,574,000. Mondrian Investment Partners LTD acquired a new position in shares of Lloyds Banking Group in the 3rd quarter valued at $285,004,000. Northern Trust Corp increased its position in shares of Lloyds Banking Group by 3.9% in the 3rd quarter. Northern Trust Corp now owns 14,279,272 shares of the financial services provider’s stock valued at $64,828,000 after buying an additional 541,501 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in Lloyds Banking Group by 4.6% during the third quarter. CIBC Private Wealth Group LLC now owns 14,129,519 shares of the financial services provider’s stock worth $64,148,000 after acquiring an additional 622,552 shares in the last quarter. 2.15% of the stock is currently owned by institutional investors and hedge funds.
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.