Lloyds Banking Group (LON:LLOY) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Lloyds Banking Group plc (LON:LLOY - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 60.33 ($0.78) and traded as high as GBX 71.42 ($0.93). Lloyds Banking Group shares last traded at GBX 69.70 ($0.90), with a volume of 165,195,781 shares traded.

Analyst Ratings Changes

A number of equities analysts have commented on LLOY shares. Citigroup boosted their price target on shares of Lloyds Banking Group from GBX 61 ($0.79) to GBX 71 ($0.92) and gave the company a "buy" rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. increased their price target on Lloyds Banking Group from GBX 62 ($0.80) to GBX 71 ($0.92) and gave the stock an "underweight" rating in a research report on Tuesday, March 25th. Finally, Shore Capital reiterated a "hold" rating on shares of Lloyds Banking Group in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of GBX 62.40 ($0.81).

Lloyds Banking Group Trading Up 3.0 %

The stock has a market cap of £40.23 billion, a price-to-earnings ratio of 8.39, a P/E/G ratio of 1.84 and a beta of 1.23. The firm has a fifty day simple moving average of GBX 68.05 and a 200-day simple moving average of GBX 60.64.

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

Lloyds Banking Group Increases Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Thursday, April 10th will be given a dividend of GBX 2.11 ($0.03) per share. This is a boost from Lloyds Banking Group's previous dividend of $1.06. The ex-dividend date is Thursday, April 10th. This represents a dividend yield of 3.01%. Lloyds Banking Group's payout ratio is currently 37.95%.

Insider Buying and Selling

In related news, insider William Chalmers sold 11,338 shares of Lloyds Banking Group stock in a transaction on Friday, March 21st. The stock was sold at an average price of GBX 70 ($0.91), for a total transaction of £7,936.60 ($10,301.92). 0.17% of the stock is currently owned by insiders.

Lloyds Banking Group Company Profile

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.