Lloyds Banking Group (LON:LLOY) Price Target Raised to GBX 71 at JPMorgan Chase & Co.

Lloyds Banking Group (LON:LLOY - Get Free Report) had its price target hoisted by equities researchers at JPMorgan Chase & Co. from GBX 62 ($0.80) to GBX 71 ($0.92) in a note issued to investors on Tuesday, MarketBeat.com reports. The brokerage presently has an "underweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s target price would suggest a potential downside of 3.56% from the company's current price.

A number of other equities research analysts have also issued reports on the company. Shore Capital reissued a "hold" rating on shares of Lloyds Banking Group in a research report on Thursday, February 20th. Citigroup upped their price target on shares of Lloyds Banking Group from GBX 61 ($0.79) to GBX 71 ($0.92) and gave the stock a "buy" rating in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of GBX 62.40 ($0.81).

Lloyds Banking Group Stock Performance

LLOY stock traded down GBX 0.38 ($0.00) during mid-day trading on Tuesday, hitting GBX 73.62 ($0.95). 707,170,125 shares of the company were exchanged, compared to its average volume of 181,398,922. Lloyds Banking Group has a 1-year low of GBX 49.42 ($0.64) and a 1-year high of GBX 74.46 ($0.96). The firm's 50 day simple moving average is GBX 66.77 and its 200 day simple moving average is GBX 59.94. The firm has a market cap of £44.64 billion, a P/E ratio of 9.31, a P/E/G ratio of 1.84 and a beta of 1.23.

Lloyds Banking Group (LON:LLOY - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The financial services provider reported GBX 6.30 ($0.08) EPS for the quarter. Lloyds Banking Group had a net margin of 16.66% and a return on equity of 11.22%. On average, equities research analysts predict that Lloyds Banking Group will post 7.3199528 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider William Chalmers sold 11,338 shares of the firm's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of GBX 70 ($0.91), for a total transaction of £7,936.60 ($10,272.59). Company insiders own 0.17% of the company's stock.

About Lloyds Banking Group

We are the largest UK retail and commercial financial services provider with over 25 million customers and a presence in nearly every community. The Group's main business activities are retail and commercial banking, general insurance and long-term savings, provided through the largest branch network and digital bank in the UK, with well recognised brands including Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows. Our shares are quoted on the London and New York stock exchanges and we are one of the largest companies in the FTSE 100 index.