JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Lloyds Banking Group (LON:LLOY) Stock

Lloyds Banking Group (LON:LLOY) had its target price lifted by research analysts at JPMorgan Chase & Co. from GBX 55 ($0.69) to GBX 62 ($0.78) in a research note issued on Tuesday,Digital Look reports. The brokerage currently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 9.65% from the company’s previous close.

Separately, Shore Capital reissued a “hold” rating on shares of Lloyds Banking Group in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of GBX 58 ($0.73).

Lloyds Banking Group Stock Up 1.9 %

LLOY stock traded up GBX 1.30 ($0.02) during midday trading on Tuesday, hitting GBX 68.62 ($0.87). The company’s stock had a trading volume of 222,825,781 shares, compared to its average volume of 160,215,703. Lloyds Banking Group has a 12 month low of GBX 45.49 ($0.57) and a 12 month high of GBX 69.23 ($0.87). The company has a 50 day moving average of GBX 58.89 and a two-hundred day moving average of GBX 57.67. The firm has a market capitalization of £41.61 billion, a price-to-earnings ratio of 8.68, a price-to-earnings-growth ratio of 1.84 and a beta of 1.23.

Lloyds Banking Group (LON:LLOY) last released its earnings results on Thursday, February 20th. The financial services provider reported GBX 6.30 ($0.08) EPS for the quarter. Lloyds Banking Group had a net margin of 16.66% and a return on equity of 11.22%. On average, analysts anticipate that Lloyds Banking Group will post 7.3199528 earnings per share for the current fiscal year.

Insider Activity at Lloyds Banking Group

In other news, insider William Chalmers acquired 128,804 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was bought at an average cost of GBX 54 ($0.68) per share, with a total value of £69,554.16 ($87,776.58). 0.17% of the stock is owned by insiders.

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.