JPMorgan Chase & Co. Lowers Lloyds Banking Group (NYSE:LYG) to Neutral

JPMorgan Chase & Co. downgraded shares of Lloyds Banking Group (NYSE:LYG) from an overweight rating to a neutral rating in a research report report published on Tuesday morning, Briefing.com Automated Import reports.

Several other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded ExlService from a hold rating to a sell rating in a report on Wednesday, July 10th. Keefe, Bruyette & Woods raised AEGON from an underperform rating to a market perform rating in a report on Tuesday, May 28th. Bank of America raised Royal Bank of Scotland Group from an underperform rating to a neutral rating in a report on Thursday, April 18th. Finally, Davy Research raised Lloyds Banking Group from a neutral rating to an outperform rating in a report on Tuesday, May 28th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $3.75.

Shares of LYG stock opened at $2.84 on Tuesday. The firm has a fifty day simple moving average of $2.87. The firm has a market cap of $51.17 billion, a P/E ratio of 8.61 and a beta of 1.04. Lloyds Banking Group has a fifty-two week low of $2.43 and a fifty-two week high of $3.46. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.49 and a current ratio of 1.49.

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 for the quarter. Lloyds Banking Group had a return on equity of 16.28% and a net margin of 23.77%. The company had revenue of $5.98 billion for the quarter. Analysts expect that Lloyds Banking Group will post 0.43 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Massey Quick Simon & CO. LLC bought a new position in shares of Lloyds Banking Group in the 1st quarter worth about $26,000. Webster Bank N. A. acquired a new stake in shares of Lloyds Banking Group in the 1st quarter valued at about $28,000. Andesa Financial Management Inc. acquired a new stake in shares of Lloyds Banking Group in the 1st quarter valued at about $32,000. Private Trust Co. NA acquired a new stake in shares of Lloyds Banking Group in the 2nd quarter valued at about $30,000. Finally, Zions Bancorporation N.A. acquired a new stake in shares of Lloyds Banking Group in the 1st quarter valued at about $35,000. 1.94% of the stock is owned by institutional investors and hedge funds.

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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