Lloyds Banking Group (NYSE:LYG) Reaches New 52-Week High at $3.02

Lloyds Banking Group plc (NYSE:LYG)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $3.02 and last traded at $3.02, with a volume of 2787367 shares. The stock had previously closed at $2.96.

Wall Street Analyst Weigh In

LYG has been the topic of several analyst reports. Berenberg Bank initiated coverage on shares of Lloyds Banking Group in a report on Thursday, April 25th. They issued a “hold” rating and a $2.75 price target on the stock. Bank of America raised shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Lloyds Banking Group in a report on Thursday, May 9th. They set a “buy” rating on the stock. Finally, BNP Paribas raised shares of Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a report on Friday, July 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $44.25.

Lloyds Banking Group Stock Performance

The business’s 50-day simple moving average is $2.77 and its two-hundred day simple moving average is $2.51. The firm has a market cap of $47.48 billion, a price-to-earnings ratio of 7.79, a P/E/G ratio of 1.27 and a beta of 1.35. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.82.

Lloyds Banking Group (NYSE:LYG) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.09 earnings per share for the quarter. Lloyds Banking Group had a net margin of 13.41% and a return on equity of 10.35%. The firm had revenue of $14.35 billion during the quarter. As a group, sell-side analysts expect that Lloyds Banking Group plc will post 0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Naples Money Management LLC acquired a new stake in Lloyds Banking Group in the 4th quarter valued at approximately $25,000. TCG Advisory Services LLC purchased a new position in Lloyds Banking Group in the 4th quarter valued at approximately $25,000. Atria Wealth Solutions Inc. purchased a new position in Lloyds Banking Group in the 4th quarter valued at approximately $26,000. D Orazio & Associates Inc. purchased a new position in Lloyds Banking Group in the 4th quarter valued at approximately $26,000. Finally, Riversedge Advisors LLC purchased a new position in Lloyds Banking Group in the 4th quarter valued at approximately $27,000. Institutional investors and hedge funds 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.