Deutsche Bank Aktiengesellschaft Upgrades Lloyds Banking Group (NYSE:LYG) to Buy

Lloyds Banking Group (NYSE:LYG) was upgraded by analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research report issued on Monday, Benzinga reports.

Several other research analysts have also issued reports on LYG. Berenberg Bank reiterated a “hold” rating on shares of Lloyds Banking Group in a research report on Friday, February 26th. UBS Group reissued a “buy” rating on shares of Lloyds Banking Group in a research note on Monday, March 1st. Investec downgraded shares of Lloyds Banking Group from a “buy” rating to a “hold” rating in a research note on Monday, January 11th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Lloyds Banking Group in a research note on Tuesday, March 2nd. Finally, JPMorgan Chase & Co. raised shares of Lloyds Banking Group from a “neutral” rating to an “overweight” rating in a research note on Monday, March 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. Lloyds Banking Group currently has a consensus rating of “Buy” and a consensus target price of $2.50.

Shares of NYSE:LYG opened at $2.29 on Monday. Lloyds Banking Group has a 52-week low of $1.17 and a 52-week high of $2.43. The firm has a fifty day moving average of $2.30 and a 200 day moving average of $1.93. The firm has a market capitalization of $40.62 billion, a PE ratio of 4.32 and a beta of 1.45.

Hedge funds have recently added to or reduced their stakes in the stock. Altfest L J & Co. Inc. raised its stake in Lloyds Banking Group by 672.5% in the fourth quarter. Altfest L J & Co. Inc. now owns 126,784 shares of the financial services provider’s stock worth $248,000 after buying an additional 110,372 shares in the last quarter. Aperio Group LLC lifted its holdings in shares of Lloyds Banking Group by 5.3% during the fourth quarter. Aperio Group LLC now owns 2,797,155 shares of the financial services provider’s stock valued at $5,482,000 after purchasing an additional 140,273 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of Lloyds Banking Group by 23.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 32,610 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 6,090 shares in the last quarter. CAPROCK Group Inc. increased its position in Lloyds Banking Group by 58.1% during the 4th quarter. CAPROCK Group Inc. now owns 50,192 shares of the financial services provider’s stock valued at $98,000 after buying an additional 18,448 shares in the last quarter. Finally, Schafer Cullen Capital Management Inc bought a new stake in Lloyds Banking Group in the fourth quarter worth $149,000. 1.30% of the stock is owned by institutional investors.

Lloyds Banking Group Company Profile

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services 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 loans, leasing solutions, credit cards, and other financial services to personal and small business customers.

See Also: What is the CAC 40 Index

Analyst Recommendations for Lloyds Banking Group (NYSE:LYG)

Receive News & Ratings for Lloyds Banking Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lloyds Banking Group and related companies with MarketBeat.com's FREE daily email newsletter.