UBS Group cuts Lloyds Banking Group (NYSE:LYG) price target to GBX 58

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Lloyds Banking Group (NYSE:LYG – Get a rating) saw its target price reduced by analysts at UBS Group from GBX 62 ($0.81) to GBX 58 ($0.76) in a report on Friday, reports The Fly.

A number of other research companies have also published reports on LYG recently. JPMorgan Chase & Co. reissued an “overweight” rating on Lloyds Banking Group shares in a research note on Monday, December 6. Zacks Investment Research upgraded Lloyds Banking Group from a “hold” rating to a “buy” rating and set a target price of $2.75 for the company in a Wednesday, March 2 research note. Finally, Bank of America upgraded shares of Lloyds Banking Group from an “underperforming” rating to a “neutral” rating in a research note on Monday. Five investment analysts gave the stock a hold rating and thirteen gave the stock a buy rating. According to data from MarketBeat, Lloyds Banking Group has a consensus rating of “Buy” and an average target price of $30.38.

Shares of NYSE:LYG traded at $0.01 in Friday’s midday session, hitting $2.33. The stock recorded a trading volume of 887,325 shares, compared to an average volume of 13,903,818 shares. The company has a 50-day simple moving average of $2.71 and a two-hundred-day simple moving average of $2.57. Lloyds Banking Group has a 12-month low of $2.09 and a 12-month high of $3.00. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt ratio of 1.59. The company has a market capitalization of $41.37 billion, a PE ratio of 5.68, a growth price-earnings ratio of 0.21 and a beta of 1.39.

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Hedge funds and other institutional investors have recently increased or reduced their stakes in the company. Avantax Advisory Services Inc. acquired a new stake in shares of Lloyds Banking Group in Q3 valued at approximately $26,000. Vista Wealth Management Group LLC acquired a new stake in Lloyds Banking Group during Q3 for $26,000. Summit Trail Advisors LLC acquired a new stake in Lloyds Banking Group during Q4 valued at $26,000. Brighton Jones LLC acquired a new stake in Lloyds Banking Group during Q3 worth $27,000. Finally, Kestra Private Wealth Services LLC acquired a new stake in Lloyds Banking Group during the 4th quarter for a value of $27,000. 1.41% of the shares are held by institutional investors.

About Lloyds Banking Group (Get a rating)

Lloyds Banking Group Plc is a financial services company that provides a wide range of banking and financial services. It operates through the following segments: Retail, Commercial Banking and Insurance and Wealth. The Retail segment offers a wide range of financial services products, including checking accounts, savings accounts, mortgages, car loans and unsecured consumer loans to individuals and small businesses.

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Analyst recommendations for Lloyds Banking Group (NYSE: LYG)

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