Lloyds Banking Group (LON:LLOY) Share Price Crosses Above 200-Day Moving Average of $52.79

Lloyds Banking Group plc (LON:LLOY) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 52.79 ($0.69) and traded as high as GBX 59.22 ($0.77). Lloyds Banking Group shares last traded at GBX 59.22 ($0.77), with a volume of 96,623,961 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Citigroup reissued a “buy” rating on shares of Lloyds Banking Group in a report on Monday, July 8th. Shore Capital reissued a “hold” rating on shares of Lloyds Banking Group in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. raised their price objective on Lloyds Banking Group from GBX 50 ($0.65) to GBX 54 ($0.70) and gave the stock an “underweight” rating in a research report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of GBX 56.83 ($0.74).

Lloyds Banking Group Trading Down 0.2 %

The company has a 50 day moving average of GBX 57.20 and a 200 day moving average of GBX 52.79. The firm has a market cap of £36.55 billion, a price-to-earnings ratio of 846.00, a price-to-earnings-growth ratio of 2.00 and a beta of 1.26.

Lloyds Banking Group Cuts Dividend

The company also recently announced a dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 1st will be issued a GBX 1.06 ($0.01) dividend. This represents a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, August 1st. Lloyds Banking Group’s payout ratio is 4,285.71%.

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.