Lloyds Banking Group (NYSE:LYG) Stock Rating Lowered by Royal Bank of Canada

Royal Bank of Canada cut shares of Lloyds Banking Group (NYSE:LYG) from an outperform rating to a sector perform rating in a report released on Friday morning, Marketbeat.com reports.

A number of other equities analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Lloyds Banking Group in a report on Thursday, May 9th. They set a buy rating for the company. Berenberg Bank initiated coverage on Lloyds Banking Group in a report on Thursday, April 25th. They set a hold rating and a $2.75 price target for the company. Finally, BNP Paribas raised Lloyds Banking Group from a neutral rating to an outperform rating in a report on Friday, July 5th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $32.38.

Lloyds Banking Group Price Performance

Shares of NYSE LYG opened at $3.10 on Friday. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.45 and a quick ratio of 1.48. Lloyds Banking Group has a fifty-two week low of $1.88 and a fifty-two week high of $3.13. The stock has a market capitalization of $48.45 billion, a PE ratio of 8.16 and a beta of 1.35. The business has a fifty day moving average price of $2.86 and a two-hundred day moving average price of $2.57.

Lloyds Banking Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, September 20th. Investors of record on Monday, August 5th will be given a dividend of $0.0546 per share. The ex-dividend date is Monday, August 5th. This represents a yield of 4.4%. This is a positive change from Lloyds Banking Group’s previous semi-annual dividend of $0.05. Lloyds Banking Group’s payout ratio is currently 47.37%.

Institutional Investors Weigh In On Lloyds Banking Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Naples Money Management LLC bought a new stake in Lloyds Banking Group during the 4th quarter worth $25,000. TCG Advisory Services LLC bought a new stake in Lloyds Banking Group during the 4th quarter worth $25,000. Atria Wealth Solutions Inc. bought a new stake in Lloyds Banking Group during the 4th quarter worth $26,000. D Orazio & Associates Inc. bought a new stake in Lloyds Banking Group during the 4th quarter worth $26,000. Finally, Headlands Technologies LLC bought a new stake in Lloyds Banking Group during the 4th quarter worth $27,000. Institutional investors own 2.15% of the company’s stock.

About Lloyds Banking Group

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom and internationally. It operates in three segments: Retail; Commercial Banking; and Insurance, Pensions and Investments. The Retail segment offers a range of financial service products, including current accounts, savings, mortgages, motor finance, unsecured loans, leasing solutions, and credit cards to personal customers.