Lloyds Banking Group PLC (NYSE:LYG) Short Interest Down 44.7% in June

Lloyds Banking Group PLC (NYSE:LYG) was the target of a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 3,838,506 shares, a drop of 44.7% from the May 31st total of 6,943,194 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 31,509,695 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of Lloyds Banking Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tucker Asset Management LLC acquired a new position in Lloyds Banking Group during the 4th quarter worth about $27,000. Cornerstone Planning Group LLC raised its position in shares of Lloyds Banking Group by 131.2% during the first quarter. Cornerstone Planning Group LLC now owns 5,137 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 2,915 shares during the last quarter. Harbour Investments Inc. lifted its stake in shares of Lloyds Banking Group by 47.3% in the fourth quarter. Harbour Investments Inc. now owns 6,386 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 2,051 shares during the period. Eagle Bay Advisors LLC acquired a new position in shares of Lloyds Banking Group in the fourth quarter worth approximately $35,000. Finally, Manchester Capital Management LLC boosted its holdings in Lloyds Banking Group by 1,216.6% in the fourth quarter. Manchester Capital Management LLC now owns 8,163 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 7,543 shares during the last quarter. 2.15% of the stock is currently owned by institutional investors and hedge funds.

Lloyds Banking Group Trading Up 1.5%

Shares of NYSE:LYG traded up $0.09 during midday trading on Wednesday, hitting $5.92. 16,093,550 shares of the stock were exchanged, compared to its average volume of 20,981,941. The business’s 50-day moving average price is $5.42 and its 200 day moving average price is $5.43. Lloyds Banking Group has a 12 month low of $3.98 and a 12 month high of $6.34. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market capitalization of $86.50 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 0.58 and a beta of 0.87.

Lloyds Banking Group (NYSE:LYG) last posted its earnings results on Tuesday, March 31st. The financial services provider reported $0.13 EPS for the quarter. Lloyds Banking Group had a net margin of 25.11% and a return on equity of 10.63%. The business had revenue of $6.87 billion for the quarter. Analysts predict that Lloyds Banking Group will post 0.53 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Morgan Stanley reaffirmed an “overweight” rating on shares of Lloyds Banking Group in a report on Tuesday. Weiss Ratings downgraded Lloyds Banking Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Citigroup reaffirmed a “buy” rating on shares of Lloyds Banking Group in a research note on Thursday, April 30th. Berenberg Bank started coverage on Lloyds Banking Group in a research report on Wednesday, June 24th. They issued a “hold” rating on the stock. Finally, UBS Group raised shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Lloyds Banking Group has an average rating of “Moderate Buy”.

About Lloyds Banking Group

Lloyds Banking Group plc is a UK-based banking and financial services company that provides a broad range of retail, commercial and insurance products. Its principal consumer-facing brands include Lloyds Bank, Halifax and Bank of Scotland, through which it offers current accounts, savings, mortgages, credit cards and personal loans. The group also delivers services to small and medium-sized enterprises (SMEs) and larger corporate clients, supplying business accounts, lending, payments and cash-management solutions.

In addition to core banking, Lloyds operates a significant wealth and insurance arm under the Scottish Widows brand, offering life insurance, pensions, investment and retirement planning products.