Lloyds Banking Group (NYSE:LYG) Sees Large Volume Increase - Still a Buy?

Lloyds Banking Group plc (NYSE:LYG - Get Free Report) saw strong trading volume on Monday . 16,517,627 shares traded hands during mid-day trading, an increase of 32% from the previous session's volume of 12,473,722 shares.The stock last traded at $3.80 and had previously closed at $3.75.

Wall Street Analyst Weigh In

Separately, Morgan Stanley raised Lloyds Banking Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $2.75.

Lloyds Banking Group Stock Down 2.7 %

The business has a fifty day moving average of $3.09 and a 200 day moving average of $2.98. The company has a market cap of $57.64 billion, a P/E ratio of 11.50 and a beta of 1.31.

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

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Lloyds Banking Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, April 11th will be issued a $0.1035 dividend. This is an increase 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 yield of 4%. Lloyds Banking Group's dividend payout ratio is 60.61%.

Hedge Funds Weigh In On Lloyds Banking Group

A number of institutional investors have recently added to or reduced their stakes in LYG. Apollon Wealth Management LLC increased its holdings in shares of Lloyds Banking Group by 2.8% during the fourth quarter. Apollon Wealth Management LLC now owns 122,641 shares of the financial services provider's stock valued at $334,000 after acquiring an additional 3,346 shares in the last quarter. Independent Advisor Alliance increased its holdings in shares of Lloyds Banking Group by 4.8% during the fourth quarter. Independent Advisor Alliance now owns 75,049 shares of the financial services provider's stock valued at $204,000 after acquiring an additional 3,420 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings in shares of Lloyds Banking Group by 9.9% during the fourth quarter. Rehmann Capital Advisory Group now owns 38,339 shares of the financial services provider's stock valued at $104,000 after acquiring an additional 3,451 shares in the last quarter. OneDigital Investment Advisors LLC boosted its position in shares of Lloyds Banking Group by 3.5% during the fourth quarter. OneDigital Investment Advisors LLC now owns 109,799 shares of the financial services provider's stock valued at $299,000 after buying an additional 3,728 shares during the last quarter. Finally, Brio Consultants LLC boosted its position in shares of Lloyds Banking Group by 30.2% during the fourth quarter. Brio Consultants LLC now owns 16,735 shares of the financial services provider's stock valued at $46,000 after buying an additional 3,880 shares during the last quarter. Institutional investors own 2.15% of the company's stock.

Lloyds Banking Group Company Profile

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.