Lloyds Banking Group (NYSE:LYG) Shares Gap Up to $2.73

Lloyds Banking Group plc (NYSE:LYG)’s share price gapped up before the market opened on Monday . The stock had previously closed at $2.73, but opened at $2.81. Lloyds Banking Group shares last traded at $2.81, with a volume of 2,680,155 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Lloyds Banking Group in a research note on Thursday, May 9th. They set a “buy” rating on the stock. Bank of America raised Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Thursday, March 21st. Finally, Berenberg Bank began coverage on Lloyds Banking Group in a report on Thursday, April 25th. They issued a “hold” rating and a $2.75 target price on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.55.

Lloyds Banking Group Stock Performance

The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market cap of $44.02 billion, a price-to-earnings ratio of 7.18, a P/E/G ratio of 1.16 and a beta of 1.35. The stock has a fifty day simple moving average of $2.72 and a two-hundred day simple moving average of $2.48.

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

Institutional Investors Weigh In On Lloyds Banking Group

Several hedge funds have recently modified their holdings of LYG. Mondrian Investment Partners LTD lifted its holdings in Lloyds Banking Group by 39.2% during the 1st quarter. Mondrian Investment Partners LTD now owns 89,948,537 shares of the financial services provider’s stock worth $232,967,000 after buying an additional 25,351,270 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in Lloyds Banking Group by 149.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 29,696,591 shares of the financial services provider’s stock worth $70,975,000 after buying an additional 17,814,615 shares during the period. Morningstar Investment Services LLC lifted its holdings in Lloyds Banking Group by 96.9% during the 4th quarter. Morningstar Investment Services LLC now owns 21,147,627 shares of the financial services provider’s stock worth $50,966,000 after buying an additional 10,406,673 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in Lloyds Banking Group by 195.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 2,833,546 shares of the financial services provider’s stock worth $7,339,000 after buying an additional 1,875,688 shares during the period. Finally, Natixis Advisors L.P. lifted its holdings in Lloyds Banking Group by 34.8% during the 4th quarter. Natixis Advisors L.P. now owns 7,122,268 shares of the financial services provider’s stock worth $17,021,000 after buying an additional 1,840,413 shares during the period. 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.