BTC Capital Management Inc. Purchases New Position in Lloyds Banking Group PLC $LYG

BTC Capital Management Inc. purchased a new stake in Lloyds Banking Group PLC (NYSE:LYG) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 348,118 shares of the financial services provider’s stock, valued at approximately $1,846,000.

Other hedge funds also recently modified their holdings of the company. True Wealth Design LLC acquired a new position in shares of Lloyds Banking Group in the 3rd quarter worth approximately $25,000. Salomon & Ludwin LLC grew its position in Lloyds Banking Group by 2,671.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 5,959 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 5,744 shares during the last quarter. Private Trust Co. NA increased its holdings in Lloyds Banking Group by 115.2% during the 3rd quarter. Private Trust Co. NA now owns 6,092 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 3,261 shares in the last quarter. Westside Investment Management Inc. raised its position in Lloyds Banking Group by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 6,406 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 3,203 shares during the last quarter. Finally, Concord Wealth Partners boosted its stake in Lloyds Banking Group by 124.9% in the third quarter. Concord Wealth Partners now owns 7,203 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 4,000 shares in the last quarter. Institutional investors and hedge funds own 2.15% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on LYG. BNP Paribas Exane cut Lloyds Banking Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Lloyds Banking Group in a research report on Tuesday, February 3rd. Finally, Weiss Ratings upgraded shares of Lloyds Banking Group from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, February 17th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Lloyds Banking Group has a consensus rating of “Moderate Buy”.

Lloyds Banking Group Stock Up 3.9%

Shares of LYG opened at $5.02 on Wednesday. The firm has a market capitalization of $73.95 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 0.49 and a beta of 0.86. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.48 and a current ratio of 1.48. The business’s fifty day moving average price is $5.50 and its two-hundred day moving average price is $5.11. Lloyds Banking Group PLC has a 52 week low of $3.27 and a 52 week high of $6.34.

Lloyds Banking Group (NYSE:LYG) last released its earnings results on Thursday, January 29th. The financial services provider reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. Lloyds Banking Group had a return on equity of 10.06% and a net margin of 24.30%.The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.52 billion. On average, analysts predict that Lloyds Banking Group PLC will post 0.27 earnings per share for the current year.

Lloyds Banking Group Announces Dividend

The company also recently disclosed a dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, April 10th will be issued a dividend of $0.134 per share. This represents a yield of 447.0%. The ex-dividend date of this dividend is Friday, April 10th. Lloyds Banking Group’s payout ratio is currently 61.90%.

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.