Barclays raises Lloyds Banking Group (NYSE:LYG) price target to GBX 55

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Lloyds Banking Group (NYSE: LYG – Get a rating) saw its target price raised by research analysts to Barclays from GBX 52 ($0.63) to GBX 55 ($0.66) in a research note published on Friday, Fly reports.

Several other brokerages have also published reports on LYG. JPMorgan Chase & Co. raised its price target on Lloyds Banking Group from GBX 60 ($0.72) to GBX 61 ($0.73) in a Thursday, May 19 research note. Bank of America upgraded Lloyds Banking Group from a “neutral” rating to a “buy” rating in a Wednesday, April 27 research note. Royal Bank of Canada raised its price target on Lloyds Banking Group from GBX 42 ($0.51) to GBX 45 ($0.54) in a research note on Thursday. Credit Suisse Group raised its price target on Lloyds Banking Group from GBX 71 ($0.86) to GBX 72 ($0.87) in a research note on Thursday. To finish, StockNews.com began covering Lloyds Banking Group in a research note on Thursday March 31. They issued a “hold” rating on the stock. One analyst rated the stock with a sell rating, three gave the company a hold rating and nine gave the company a buy rating. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.00.

Lloyds Banking Group Stock up 1.4%

NYSE LYG traded down $0.03 on Friday, hitting $2.21. The stock had a trading volume of 911,297 shares, compared to an average volume of 13,183,998. The company has a 50-day moving average price of $2.11 and a 200-day moving average price of 2. $37. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt ratio of 1.71. Lloyds Banking Group has a 1-year low of $1.90 and a 1-year high of $3.00. The company has a market capitalization of $38.15 billion, a price/earnings ratio of 5.67, a P/E/G ratio of 0.20 and a beta of 1.29.

Lloyds Banking Group (NYSE: LYG – Get a rating) last announced its quarterly results on Wednesday, April 27. The financial services provider reported earnings per share of $0.08 for the quarter, meeting analyst consensus estimates of $0.08. Lloyds Banking Group achieved a return on equity of 11.10% and a net margin of 25.36%. The company posted revenue of $5.54 billion in the quarter, versus $5.20 billion expected by analysts. On average, analysts expect Lloyds Banking Group to post an EPS of 0.34 for the current financial year.

Hedge funds weigh on Lloyds Banking Group

A number of large investors have recently increased or reduced their stake in the company. Ieq Capital LLC increased its holdings of Lloyds Banking Group shares by 24.0% in the fourth quarter. Ieq Capital LLC now owns 20,054 shares of the financial services provider valued at $51,000 after acquiring 3,883 additional shares last quarter. Quadrant Capital Group LLC increased its holdings of Lloyds Banking Group shares by 4.9% in the fourth quarter. Quadrant Capital Group LLC now owns 95,979 shares of the financial services provider valued at $245,000 after acquiring 4,479 additional shares last quarter. Raymond James Trust NA increased its holdings of Lloyds Banking Group shares by 31.6% in Q4. Raymond James Trust NA now owns 20,367 shares of the financial services provider valued at $52,000 after acquiring an additional 4,885 shares last quarter. West Family Investments Inc. increased its holdings of Lloyds Banking Group shares by 6.7% in Q1. West Family Investments Inc. now owns 81,755 shares of the financial services provider valued at $197,000 after acquiring an additional 5,124 shares last quarter. Finally, Lake Street Advisors Group LLC increased its stake in Lloyds Banking Group shares by 12.6% in the 1st quarter. Lake Street Advisors Group LLC now owns 46,243 shares of the financial services provider valued at $111,000 after acquiring 5,178 additional shares in the last quarter. Institutional investors hold 1.41% of the company’s shares.

Lloyds Banking Group Company Profile

(Get a rating)

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the UK. It operates through three segments: Retail; The Commercial Bank; and insurance and heritage. The Retail segment offers a range of financial services products, including current accounts, savings accounts, mortgages, auto finance, unsecured loans, leasing solutions and credit cards to individuals and to small businesses.

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Analyst recommendations for Lloyds Banking Group (NYSE: LYG)

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