Lloyds Banking Group (NYSE:LYG) Upgraded by BNP Paribas to “Outperform”

Lloyds Banking Group (NYSE:LYG) was upgraded by analysts at BNP Paribas from a “neutral” rating to an “outperform” rating in a research note issued to investors on Friday, Briefing.com reports.

LYG has been the subject of several other research reports. Berenberg Bank started coverage on shares of Lloyds Banking Group in a research report on Thursday, April 25th. They set a “hold” rating and a $2.75 price target for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Lloyds Banking Group in a research note on Thursday, May 9th. They issued a “buy” rating on the stock. Finally, Bank of America upgraded Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research report on Thursday, March 21st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.19.

Lloyds Banking Group Price Performance

Shares of NYSE LYG opened at $2.83 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $44.49 billion, a price-to-earnings ratio of 7.45, a price-to-earnings-growth ratio of 1.20 and a beta of 1.35. Lloyds Banking Group has a twelve month low of $1.88 and a twelve month high of $2.87. The business has a 50 day simple moving average of $2.74 and a 200-day simple moving average of $2.49.

Lloyds Banking Group (NYSE:LYG) last released its 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, equities research analysts expect that Lloyds Banking Group will post 0.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LYG. Naples Money Management LLC acquired a new stake in shares of Lloyds Banking Group in the fourth quarter worth $25,000. TCG Advisory Services LLC acquired a new stake in shares of Lloyds Banking Group during the fourth quarter worth approximately $25,000. Atria Wealth Solutions Inc. purchased a new position in Lloyds Banking Group during the fourth quarter valued at approximately $26,000. D Orazio & Associates Inc. acquired a new position in Lloyds Banking Group in the 4th quarter valued at approximately $26,000. Finally, Riversedge Advisors LLC acquired a new stake in shares of Lloyds Banking Group during the 4th quarter valued at $27,000. 2.15% of the stock is owned by hedge funds and other institutional investors.

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.