Brokerages Set Lloyds Banking Group plc (LON:LLOY) Price Target at GBX 60.60

Shares of Lloyds Banking Group plc (LON:LLOY - Get Free Report) have received an average rating of "Hold" from the six brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is GBX 60.60 ($0.79).

Several research analysts have issued reports on the company. Citigroup increased their price objective on 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. Shore Capital reiterated a "hold" rating on shares of Lloyds Banking Group in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. increased their price objective on Lloyds Banking Group from GBX 55 ($0.72) to GBX 62 ($0.81) and gave the stock an "underweight" rating in a research report on Tuesday, February 25th.

Lloyds Banking Group Stock Up 1.4 %

Shares of LON LLOY traded up GBX 0.96 ($0.01) during mid-day trading on Monday, hitting GBX 71.54 ($0.93). 153,443,609 shares of the company were exchanged, compared to its average volume of 174,099,453. The stock has a 50 day simple moving average of GBX 64.33 and a 200-day simple moving average of GBX 59.19. Lloyds Banking Group has a 1-year low of GBX 49.42 ($0.64) and a 1-year high of GBX 74.46 ($0.97). The firm has a market cap of £43.38 billion, a price-to-earnings ratio of 9.05, a price-to-earnings-growth ratio of 1.84 and a beta of 1.23.

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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 for the quarter. Lloyds Banking Group had a return on equity of 11.22% and a net margin of 16.66%. Analysts anticipate that Lloyds Banking Group will post 7.3199528 earnings per share for the current fiscal year.

Lloyds Banking Group Increases Dividend

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

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.