Lloyds Banking Group (NYSE:LYG) Shares Pass Above 200-Day Moving Average – Here’s Why

Shares of Lloyds Banking Group PLC (NYSE:LYG) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.35 and traded as high as $5.47. Lloyds Banking Group shares last traded at $5.4550, with a volume of 16,261,260 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LYG. Wall Street Zen upgraded shares of Lloyds Banking Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Weiss Ratings cut Lloyds Banking Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Citigroup reiterated a “buy” rating on shares of Lloyds Banking Group in a report on Thursday, April 30th. Finally, UBS Group upgraded Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Lloyds Banking Group Stock Performance

The company has a market capitalization of $79.78 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 0.54 and a beta of 0.87. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a 50 day simple moving average of $5.33 and a two-hundred day simple moving average of $5.35.

Lloyds Banking Group (NYSE:LYG) last released its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $0.13 EPS for the quarter. Lloyds Banking Group had a return on equity of 10.63% and a net margin of 25.11%.The business had revenue of $6.87 billion for the quarter. As a group, analysts anticipate that Lloyds Banking Group PLC will post 0.53 earnings per share for the current year.

Institutional Trading of Lloyds Banking Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LYG. Mondrian Investment Partners LTD purchased a new position in shares of Lloyds Banking Group during the third quarter worth about $285,004,000. Advisors Preferred LLC purchased a new stake in shares of Lloyds Banking Group in the 3rd quarter valued at about $1,386,000. Fisher Asset Management LLC boosted its position in shares of Lloyds Banking Group by 0.8% in the 3rd quarter. Fisher Asset Management LLC now owns 149,958,264 shares of the financial services provider’s stock valued at $680,811,000 after purchasing an additional 1,129,641 shares during the period. Crossmark Global Holdings Inc. grew its stake in Lloyds Banking Group by 4.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,079,633 shares of the financial services provider’s stock worth $23,062,000 after buying an additional 211,920 shares during the last quarter. Finally, Assetmark Inc. increased its position in Lloyds Banking Group by 24.0% during the fourth quarter. Assetmark Inc. now owns 3,416,144 shares of the financial services provider’s stock worth $18,106,000 after buying an additional 660,256 shares during the period. Institutional investors and hedge funds own 2.15% of the company’s stock.

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.