Lloyds Banking Group plc (NYSE:LYG) Short Interest Update

Lloyds Banking Group plc (NYSE:LYG) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 13,570,000 shares, an increase of 53.7% from the October 15th total of 8,830,000 shares. Based on an average trading volume of 10,250,000 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE boosted its position in Lloyds Banking Group by 36.6% during the 3rd quarter. US Bancorp DE now owns 757,336 shares of the financial services provider’s stock worth $2,363,000 after acquiring an additional 202,862 shares during the period. Raymond James & Associates lifted its holdings in Lloyds Banking Group by 37.4% in the third quarter. Raymond James & Associates now owns 3,416,484 shares of the financial services provider’s stock worth $10,659,000 after purchasing an additional 929,478 shares during the period. Oppenheimer Asset Management Inc. grew its position in Lloyds Banking Group by 22.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,022,677 shares of the financial services provider’s stock valued at $3,191,000 after buying an additional 186,443 shares in the last quarter. Clearbridge Investments LLC acquired a new position in Lloyds Banking Group during the 2nd quarter valued at about $36,252,000. Finally, First Eagle Investment Management LLC raised its position in shares of Lloyds Banking Group by 9.2% during the 1st quarter. First Eagle Investment Management LLC now owns 4,060,740 shares of the financial services provider’s stock worth $10,517,000 after buying an additional 343,753 shares in the last quarter. 2.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group initiated coverage on shares of Lloyds Banking Group in a research report on Friday, October 4th. They set a “neutral” rating for the company. UBS Group reaffirmed a “neutral” rating on shares of Lloyds Banking Group in a research report on Tuesday, July 30th. Morgan Stanley cut Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, October 30th. Kepler Capital Markets started coverage on Lloyds Banking Group in a research report on Thursday, September 5th. They issued a “hold” rating for the company. Finally, Citigroup cut Lloyds Banking Group from a “buy” rating to a “neutral” rating in a research note on Monday, August 5th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $2.75.

Lloyds Banking Group Stock Performance

NYSE:LYG traded up $0.07 during midday trading on Friday, reaching $2.83. 6,925,077 shares of the company traded hands, compared to its average volume of 9,659,832. The firm has a market capitalization of $43.50 billion, a price-to-earnings ratio of 7.26 and a beta of 1.35. The company has a fifty day moving average price of $3.00 and a 200 day moving average price of $2.91. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.45 and a quick ratio of 1.48. Lloyds Banking Group has a twelve month low of $2.00 and a twelve month high of $3.24.

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.