Lloyds Banking Group plc (NYSE:LYG) Short Interest Update

Lloyds Banking Group plc (NYSE:LYG - Get Free Report) was the recipient of a significant decline in short interest in the month of 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. Based on an average trading volume of 25,660,000 shares, the short-interest ratio is presently 0.8 days. Approximately 0.1% of the company's shares are short sold.

Lloyds Banking Group Price Performance

Shares of NYSE:LYG traded down $0.26 during trading on Friday, reaching $3.42. 18,252,383 shares of the company's stock traded hands, compared to its average volume of 28,040,875. The company has a 50 day moving average of $3.48 and a 200-day moving average of $3.08. The stock has a market capitalization of $51.87 billion, a P/E ratio of 10.32 and a beta of 1.25. Lloyds Banking Group has a 12 month low of $2.42 and a 12 month high of $3.91.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last posted its earnings results 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). Lloyds Banking Group had a net margin of 11.45% and a return on equity of 8.46%. The firm had revenue of $9.46 billion for the quarter, compared to analyst estimates of $4.76 billion. Equities research analysts predict that Lloyds Banking Group will post 0.27 earnings per share for the current fiscal year.

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Lloyds Banking Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, April 11th will be issued a $0.1035 dividend. The ex-dividend date of this dividend is Friday, April 11th. This is a boost from Lloyds Banking Group's previous semi-annual dividend of $0.05. This represents a dividend yield of 4%. Lloyds Banking Group's dividend payout ratio (DPR) is 60.61%.

Hedge Funds Weigh In On Lloyds Banking Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marcum Wealth LLC boosted its position in shares of Lloyds Banking Group by 13.2% during the 1st quarter. Marcum Wealth LLC now owns 85,341 shares of the financial services provider's stock valued at $326,000 after purchasing an additional 9,951 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Lloyds Banking Group by 119.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 125,225 shares of the financial services provider's stock worth $341,000 after acquiring an additional 68,064 shares during the last quarter. Aegis Wealth Management LLC acquired a new stake in Lloyds Banking Group during the 4th quarter worth about $269,000. Forum Financial Management LP lifted its stake in Lloyds Banking Group by 35.6% during the fourth quarter. Forum Financial Management LP now owns 181,796 shares of the financial services provider's stock valued at $494,000 after buying an additional 47,752 shares in the last quarter. Finally, Continuum Advisory LLC raised its holdings in shares of Lloyds Banking Group by 5.0% during the fourth quarter. Continuum Advisory LLC now owns 95,882 shares of the financial services provider's stock valued at $261,000 after acquiring an additional 4,585 shares during the period. 2.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

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.