Lloyds Banking Group (NYSE:LYG) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Lloyds Banking Group (NYSE:LYG) from a hold rating to a sell rating in a research note released on Wednesday morning, 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. “

Other equities analysts have also recently issued research reports about the stock. Davy Research raised shares of Lloyds Banking Group from a neutral rating to an outperform rating in a research report on Tuesday, May 28th. Keefe, Bruyette & Woods raised shares of AEGON from an underperform rating to a market perform rating in a research report on Tuesday, May 28th. Finally, Bank of America raised shares of Royal Bank of Scotland Group from an underperform rating to a neutral rating in a research report on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $3.75.

Shares of LYG opened at $2.87 on Wednesday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $51.89 billion, a PE ratio of 8.70 and a beta of 1.04. The firm’s fifty day moving average price is $2.88. Lloyds Banking Group has a 12 month low of $2.43 and a 12 month high of $3.46.

Lloyds Banking Group (NYSE:LYG) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $5.98 billion for the quarter. Lloyds Banking Group had a net margin of 23.77% and a return on equity of 16.28%. As a group, research analysts forecast that Lloyds Banking Group will post 0.43 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Massey Quick Simon & CO. LLC purchased a new stake in shares of Lloyds Banking Group during the 1st quarter worth approximately $26,000. Western Wealth Management LLC purchased a new stake in shares of Lloyds Banking Group during the 4th quarter worth approximately $27,000. Webster Bank N. A. purchased a new stake in shares of Lloyds Banking Group during the 1st quarter worth approximately $28,000. Private Trust Co. NA purchased a new stake in shares of Lloyds Banking Group during the 2nd quarter worth approximately $30,000. Finally, Liberty Wealth Management LLC purchased a new stake in shares of Lloyds Banking Group during the 4th quarter worth approximately $32,000. Institutional investors own 1.94% 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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