Lloyds Banking Group (LYG) Downgraded to Hold at Zacks Investment Research

Lloyds Banking Group (NYSE:LYG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday, Zacks.com reports.

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. “

Several other equities research analysts also recently issued reports on the stock. Bank of America downgraded shares of Lloyds Banking Group from a “buy” rating to an “underperform” rating in a research note on Thursday, April 18th. Goldman Sachs Group upgraded shares of Lloyds Banking Group from a “sell” rating to a “neutral” rating in a research note on Monday, March 11th. Morgan Stanley upgraded shares of Lloyds Banking Group from an “equal” rating to a “weight” rating in a research note on Monday, February 11th. Keefe, Bruyette & Woods upgraded shares of Lloyds Banking Group from an “underperform” rating to an “outperform” rating in a research note on Thursday, January 24th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Lloyds Banking Group in a research note on Tuesday, January 22nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $3.50.

Shares of NYSE:LYG opened at $3.24 on Friday. Lloyds Banking Group has a 52-week low of $2.43 and a 52-week high of $3.66. The stock has a market capitalization of $58.74 billion, a P/E ratio of 2.55 and a beta of 1.03. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.47 and a quick ratio of 1.47.

Lloyds Banking Group (NYSE:LYG) last issued its earnings results on Wednesday, February 20th. The financial services provider reported $0.10 earnings per share (EPS) for the quarter. Lloyds Banking Group had a net margin of 23.49% and a return on equity of 14.65%. The business had revenue of $5.87 billion during the quarter. On average, sell-side analysts expect that Lloyds Banking Group will post 0.39 EPS for the current year.

Hedge funds have recently modified their holdings of the business. Enlightenment Research LLC acquired a new stake in Lloyds Banking Group during the fourth quarter worth approximately $25,000. Massey Quick Simon & CO. LLC acquired a new stake in Lloyds Banking Group during the first quarter worth approximately $26,000. Western Wealth Management LLC acquired a new stake in Lloyds Banking Group during the fourth quarter worth approximately $27,000. Lavaca Capital LLC acquired a new stake in Lloyds Banking Group during the fourth quarter worth approximately $28,000. Finally, Webster Bank N. A. acquired a new stake in Lloyds Banking Group during the first quarter worth approximately $28,000. Hedge funds and other institutional investors own 1.91% of the company’s stock.

About Lloyds Banking Group

Lloyds Banking Group plc provides banking and financial services under the Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows brands in the United Kingdom and internationally. It operates through three segments: Retail, Commercial Banking, and Insurance and Wealth. The Retail segment offers a range of financial service products, including current accounts, savings accounts, mortgages, motor finance, unsecured consumer loans, leasing solutions, and credit cards to personal and small business customers.

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Analyst Recommendations for Lloyds Banking Group (NYSE:LYG)

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