Lloyds Banking Group (NYSE:LYG) Hits New 1-Year High - Should You Buy?

Shares of Lloyds Banking Group plc (NYSE:LYG - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $3.22 and last traded at $3.20, with a volume of 5592214 shares. The stock had previously closed at $3.18.

Analysts Set New Price Targets

A number of research firms have issued reports on LYG. Royal Bank of Canada cut Lloyds Banking Group from an "outperform" rating to a "sector perform" rating in a report on Friday, July 26th. UBS Group restated a "neutral" rating on shares of Lloyds Banking Group in a report on Tuesday, July 30th. The Goldman Sachs Group began coverage on Lloyds Banking Group in a report on Friday, October 4th. They issued a "neutral" rating for the company. BNP Paribas upgraded Lloyds Banking Group from a "neutral" rating to an "outperform" rating in a report on Friday, July 5th. Finally, Citigroup cut Lloyds Banking Group from a "buy" rating to a "neutral" rating in a report on Monday, August 5th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Lloyds Banking Group currently has an average rating of "Hold" and an average target price of $2.75.

Lloyds Banking Group Price Performance

The firm has a market capitalization of $50.25 billion, a price-to-earnings ratio of 8.46 and a beta of 1.34. The company's 50 day moving average is $3.07 and its 200-day moving average is $2.88. The company has a current ratio of 1.45, a quick ratio of 1.48 and a debt-to-equity ratio of 1.89.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.09 earnings per share (EPS) for the quarter. Lloyds Banking Group had a net margin of 12.40% and a return on equity of 10.34%. The business had revenue of $9.55 billion during the quarter. Equities research analysts anticipate that Lloyds Banking Group plc will post 0.32 earnings per share for the current year.

Lloyds Banking Group Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, September 20th. Investors of record on Monday, August 5th were paid a $0.0546 dividend. This is an increase from Lloyds Banking Group's previous semi-annual dividend of $0.05. This represents a yield of 4.4%. The ex-dividend date of this dividend was Monday, August 5th. Lloyds Banking Group's dividend payout ratio (DPR) is 26.32%.

Institutional Investors Weigh In On Lloyds Banking Group

Hedge funds have recently bought and sold shares of the stock. Transcend Capital Advisors LLC acquired a new stake in Lloyds Banking Group during the second quarter worth approximately $28,000. Interchange Capital Partners LLC acquired a new stake in Lloyds Banking Group during the second quarter worth approximately $28,000. Intergy Private Wealth LLC acquired a new stake in Lloyds Banking Group during the second quarter worth approximately $29,000. Susquehanna International Securities Ltd. acquired a new stake in Lloyds Banking Group during the first quarter worth approximately $30,000. Finally, Tcwp LLC acquired a new stake in Lloyds Banking Group during the second quarter worth approximately $32,000. 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.