Lloyds Banking Group PLC (NYSE:LYG) Upgraded at Zacks Investment Research
Lloyds Banking Group PLC (NYSE:LYG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The firm currently has a $4.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.42% from the stock’s previous close.
According to Zacks, “Lloyds Banking Group plc, formerly Lloyds TSB Group plc, is a United Kingdom-based financial services company, whose businesses provide a range of banking and financial services in the United Kingdom and a limited number of locations overseas. Headquartered in London, the company operates through three segments: UK Retail Banking, Insurance and Investments, and Wholesale and International Banking. The UK Retail Banking segment provides banking and financial services, mortgages, and private banking services. The Insurance and Investments segment offers life assurance, pensions and savings products, general insurance, and fund management services. The Wholesale and International Banking segment provides banking and related services for companies, small and medium-sized businesses, banks, and financial institutions; and asset finance to personal and corporate customers. “
LYG has been the subject of a number of other research reports. Goldman Sachs Group Inc reiterated a “sell” rating on shares of Lloyds Banking Group PLC in a research report on Monday, May 8th. Keefe, Bruyette & Woods lowered shares of Lloyds Banking Group PLC from a “market perform” rating to an “underperform” rating in a research report on Wednesday, May 31st. Macquarie lowered shares of Lloyds Banking Group PLC from an “outperform” rating to a “neutral” rating in a research report on Friday, April 21st. Sanford C. Bernstein reiterated an “underperform” rating on shares of Lloyds Banking Group PLC in a research report on Tuesday, May 9th. Finally, ValuEngine upgraded shares of Lloyds Banking Group PLC from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Six analysts have rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. Lloyds Banking Group PLC has a consensus rating of “Hold” and a consensus price target of $4.00.
Shares of Lloyds Banking Group PLC (NYSE:LYG) traded up 0.56% during mid-day trading on Friday, reaching $3.59. 2,030,399 shares of the company’s stock traded hands. The company has a market cap of $71.07 billion, a P/E ratio of 23.01 and a beta of 0.77. The firm has a 50-day moving average of $3.64 and a 200 day moving average of $3.43. Lloyds Banking Group PLC has a 12-month low of $2.56 and a 12-month high of $3.87.
TRADEMARK VIOLATION WARNING: This piece of content was first published by American Banking News and is owned by of American Banking News. If you are viewing this piece of content on another site, it was stolen and reposted in violation of US and international copyright law. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/07/14/lloyds-banking-group-plc-nyselyg-upgraded-at-zacks-investment-research.html.
Large investors have recently made changes to their positions in the stock. Schafer Cullen Capital Management Inc. bought a new stake in shares of Lloyds Banking Group PLC during the first quarter worth $101,000. Fulton Bank N.A. bought a new stake in shares of Lloyds Banking Group PLC during the first quarter worth $111,000. Signaturefd LLC bought a new stake in shares of Lloyds Banking Group PLC during the first quarter worth $125,000. Hollencrest Securities LLC increased its stake in shares of Lloyds Banking Group PLC by 1.0% in the first quarter. Hollencrest Securities LLC now owns 37,103 shares of the financial services provider’s stock worth $126,000 after buying an additional 355 shares in the last quarter. Finally, Eqis Capital Management Inc. increased its stake in shares of Lloyds Banking Group PLC by 174.6% in the first quarter. Eqis Capital Management Inc. now owns 38,950 shares of the financial services provider’s stock worth $132,000 after buying an additional 24,765 shares in the last quarter. 1.96% of the stock is currently owned by institutional investors and hedge funds.
Lloyds Banking Group PLC Company Profile
Lloyds Banking Group plc is a provider of financial services to individual and business customers in the United Kingdom. The Company’s main business activities are retail and commercial banking, general insurance, and long-term savings, protection and investment. The Company’s segments are Retail, Commercial Banking, Consumer Finance, Insurance and Other.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Lloyds Banking Group PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lloyds Banking Group PLC and related companies with MarketBeat.com's FREE daily email newsletter.