Lloyds Banking Group (LYG) Upgraded to Hold by Zacks Investment Research

Lloyds Banking Group (NYSE:LYG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

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 brokerages have also weighed in on LYG. BNP Paribas raised Lloyds Banking Group from an “underperform” rating to a “neutral” rating in a research report on Monday. UBS reissued a “buy” rating on shares of Lloyds Banking Group in a research report on Monday. Credit Suisse Group raised Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research report on Tuesday, October 10th. Goldman Sachs Group reaffirmed a “sell” rating on shares of Lloyds Banking Group in a research report on Wednesday, December 6th. Finally, Macquarie lowered Lloyds Banking Group from a “neutral” rating to an “underperform” rating in a research report on Wednesday, November 29th. Seven equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. Lloyds Banking Group presently has a consensus rating of “Hold” and an average target price of $4.00.

Shares of Lloyds Banking Group (NYSE:LYG) opened at $3.66 on Wednesday. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.38 and a quick ratio of 1.39. The stock has a market capitalization of $65,130.46, a PE ratio of 6.70 and a beta of 0.76. Lloyds Banking Group has a 12-month low of $3.06 and a 12-month high of $3.87.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its position in Lloyds Banking Group by 0.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 28,925 shares of the financial services provider’s stock worth $102,000 after buying an additional 215 shares during the period. Keybank National Association OH purchased a new position in shares of Lloyds Banking Group in the 3rd quarter valued at approximately $123,000. American Asset Management Inc. purchased a new position in shares of Lloyds Banking Group in the 2nd quarter valued at approximately $145,000. Private Advisor Group LLC grew its stake in shares of Lloyds Banking Group by 86.5% in the 3rd quarter. Private Advisor Group LLC now owns 43,851 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 20,336 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in shares of Lloyds Banking Group by 9.0% in the 2nd quarter. Bank of Montreal Can now owns 45,681 shares of the financial services provider’s stock valued at $161,000 after purchasing an additional 3,790 shares during the last quarter. 2.12% of the stock is currently owned by institutional investors.

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About Lloyds Banking Group

Lloyds Banking Group plc is a provider of financial services to individual and business customers in the United Kingdom. The Company’s main business activities are retail and commercial banking, general insurance, and long-term savings, protection and investment. The Company’s segments are Retail, Commercial Banking, Consumer Finance, Insurance and Other.

Analyst Recommendations for Lloyds Banking Group (NYSE:LYG)

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