Lloyds Banking Group plc (NYSE:LYG) Short Interest Down 15.9% in March

Lloyds Banking Group plc (NYSE:LYG - Get Free Report) saw a significant decline in short interest in March. As of March 15th, there was short interest totalling 20,770,000 shares, a decline of 15.9% from the February 28th total of 24,690,000 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 25,660,000 shares, the days-to-cover ratio is currently 0.8 days.

Lloyds Banking Group Stock Down 7.8 %

NYSE LYG traded down $0.29 during trading hours on Friday, hitting $3.39. The company's stock had a trading volume of 36,345,257 shares, compared to its average volume of 14,664,159. Lloyds Banking Group has a twelve month low of $2.42 and a twelve month high of $3.91. The firm has a market capitalization of $51.42 billion, a P/E ratio of 10.26 and a beta of 0.95. The stock has a fifty day moving average of $3.49 and a 200 day moving average of $3.08.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last posted 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 analyst estimates of $4.76 billion. On average, analysts predict that Lloyds Banking Group will post 0.27 earnings per share for the current year.

Lloyds Banking Group Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods lowered Lloyds Banking Group from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 11th. Hsbc Global Res upgraded shares of Lloyds Banking Group to a "strong-buy" rating in a research report on Thursday, March 20th. Morgan Stanley upgraded shares of Lloyds Banking Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, March 4th. Finally, HSBC raised shares of Lloyds Banking Group from a "hold" rating to a "buy" rating in a report on Tuesday, April 1st. Seven analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $2.75.

Institutional Trading of Lloyds Banking Group

Hedge funds have recently modified their holdings of the company. Crux Wealth Advisors bought a new stake in Lloyds Banking Group in the fourth quarter valued at approximately $28,000. Brentview Investment Management LLC acquired a new stake in Lloyds Banking Group during the 4th quarter worth $31,000. Focus Partners Wealth bought a new position in Lloyds Banking Group during the fourth quarter worth about $31,000. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Lloyds Banking Group during the fourth quarter worth about $32,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Lloyds Banking Group during the 4th quarter valued at about $34,000. 2.15% of the stock is currently owned by institutional investors and hedge funds.

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.