Lloyds Banking Group (NYSE:LYG) Downgraded by Royal Bank of Canada to Sector Perform

Lloyds Banking Group (NYSE:LYG) was downgraded by research analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Friday, Briefing.com reports.

Several other brokerages also recently weighed in on LYG. Berenberg Bank began coverage on Lloyds Banking Group in a research note on Thursday, April 25th. They set a “hold” rating and a $2.75 target price for the company. Deutsche Bank Aktiengesellschaft began coverage on Lloyds Banking Group in a research report on Thursday, May 9th. They issued a “buy” rating on the stock. Finally, BNP Paribas upgraded shares of Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research note on Friday, July 5th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.25.

Lloyds Banking Group Price Performance

LYG stock opened at $3.06 on Friday. The stock has a 50-day simple moving average of $2.85 and a 200-day simple moving average of $2.56. The firm has a market cap of $47.83 billion, a P/E ratio of 8.05 and a beta of 1.35. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.48 and a current ratio of 1.48. Lloyds Banking Group has a 1 year low of $1.88 and a 1 year high of $3.10.

Lloyds Banking Group (NYSE:LYG) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.09 EPS for the quarter. The business had revenue of $14.35 billion for the quarter. Lloyds Banking Group had a net margin of 13.41% and a return on equity of 10.35%. On average, equities analysts predict that Lloyds Banking Group will post 0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lloyds Banking Group

Several large investors have recently added to or reduced their stakes in the company. Naples Money Management LLC bought a new stake in shares of Lloyds Banking Group during the 4th quarter valued at about $25,000. TCG Advisory Services LLC acquired a new position in Lloyds Banking Group during the 4th quarter valued at approximately $25,000. Atria Wealth Solutions Inc. bought a new position in Lloyds Banking Group during the 4th quarter worth $26,000. D Orazio & Associates Inc. acquired a new stake in Lloyds Banking Group in the fourth quarter worth $26,000. Finally, Headlands Technologies LLC bought a new stake in Lloyds Banking Group in the fourth quarter valued at $27,000. 2.15% of the stock is currently owned by institutional investors.

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.