Lloyds Banking Group (NYSE:LYG) Downgraded by ValuEngine to Strong Sell

ValuEngine lowered shares of Lloyds Banking Group (NYSE:LYG) from a sell rating to a strong sell rating in a research note issued to investors on Wednesday morning, ValuEngine reports.

Several other analysts also recently commented on LYG. Goldman Sachs Group downgraded shares of Lloyds Banking Group from a neutral rating to a sell rating in a report on Thursday, September 12th. Keefe, Bruyette & Woods cut shares of Lloyds Banking Group from a market perform rating to an underperform rating in a report on Thursday, September 5th. Zacks Investment Research raised shares of Lloyds Banking Group from a sell rating to a hold rating and set a $3.50 price objective for the company in a research report on Thursday, October 24th. Deutsche Bank lowered shares of Lloyds Banking Group from a buy rating to a hold rating in a research note on Friday, September 6th. Finally, Citigroup lowered shares of Lloyds Banking Group from a buy rating to a neutral rating in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $3.50.

Lloyds Banking Group stock traded down $0.02 during trading on Wednesday, hitting $3.13. 2,330,588 shares of the company were exchanged, compared to its average volume of 6,009,915. The company has a market capitalization of $55.67 billion, a P/E ratio of 9.47 and a beta of 1.10. The business’s 50 day moving average is $3.02 and its 200 day moving average is $2.77. Lloyds Banking Group has a 52 week low of $2.30 and a 52 week high of $3.46. The company has a current ratio of 0.17, a quick ratio of 1.49 and a debt-to-equity ratio of 2.53.

Large investors have recently modified their holdings of the stock. Schroder Investment Management Group bought a new position in shares of Lloyds Banking Group during the 2nd quarter valued at approximately $25,000. FLC Capital Advisors purchased a new position in shares of Lloyds Banking Group during the 2nd quarter valued at $29,000. Assetmark Inc. purchased a new position in shares of Lloyds Banking Group during the 2nd quarter valued at $29,000. AE Wealth Management LLC purchased a new position in shares of Lloyds Banking Group during the 3rd quarter valued at $29,000. Finally, Cutter & CO Brokerage Inc. bought a new position in shares of Lloyds Banking Group during the 2nd quarter worth $30,000. 1.97% of the stock is currently owned by institutional investors.

Lloyds Banking Group Company Profile

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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