Lloyds Banking Group (NYSE:LYG) Raised to "Buy" at HSBC

HSBC upgraded shares of Lloyds Banking Group (NYSE:LYG - Free Report) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning, MarketBeat.com reports.

Other research analysts also recently issued reports about the company. Morgan Stanley raised Lloyds Banking Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, March 4th. Hsbc Global Res raised shares of Lloyds Banking Group to a "strong-buy" rating in a research note on Thursday, March 20th. Finally, Keefe, Bruyette & Woods cut shares of Lloyds Banking Group from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 11th. Seven equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $2.75.

Lloyds Banking Group Price Performance

NYSE LYG traded down $0.29 on Tuesday, hitting $3.39. The company had a trading volume of 36,345,257 shares, compared to its average volume of 14,664,159. The company has a market capitalization of $51.42 billion, a PE ratio of 10.26 and a beta of 0.95. Lloyds Banking Group has a 12-month low of $2.42 and a 12-month high of $3.91. The company's fifty day moving average price is $3.49 and its 200-day moving average price is $3.08.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The financial services provider reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.03). Lloyds Banking Group had a net margin of 11.45% and a return on equity of 8.46%. The company had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $4.76 billion. On average, sell-side analysts anticipate that Lloyds Banking Group will post 0.27 EPS for the current year.

Lloyds Banking Group Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, April 11th will be paid a $0.1035 dividend. This is a boost from Lloyds Banking Group's previous semi-annual dividend of $0.05. The ex-dividend date of this dividend is Friday, April 11th. This represents a dividend yield of 4%. Lloyds Banking Group's dividend payout ratio is 60.61%.

Institutional Trading of Lloyds Banking Group

Several institutional investors have recently made changes to their positions in LYG. Moody National Bank Trust Division purchased a new stake in Lloyds Banking Group in the first quarter valued at $43,000. Marcum Wealth LLC raised its holdings in Lloyds Banking Group by 13.2% in the 1st quarter. Marcum Wealth LLC now owns 85,341 shares of the financial services provider's stock valued at $326,000 after buying an additional 9,951 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Lloyds Banking Group by 119.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 125,225 shares of the financial services provider's stock valued at $341,000 after buying an additional 68,064 shares during the last quarter. Aegis Wealth Management LLC purchased a new position in Lloyds Banking Group during the fourth quarter worth about $269,000. Finally, Forum Financial Management LP increased its position in shares of Lloyds Banking Group by 35.6% during the fourth quarter. Forum Financial Management LP now owns 181,796 shares of the financial services provider's stock valued at $494,000 after acquiring an additional 47,752 shares during the last quarter. Hedge funds and other institutional investors 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.