Lloyds Banking Group (LON:LLOY) Sets New 1-Year High – Time to Buy?

Lloyds Banking Group plc (LON:LLOY)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as GBX 117.90 and last traded at GBX 117.05, with a volume of 198460156 shares changing hands. The stock had previously closed at GBX 116.60.

Analyst Ratings Changes

A number of research firms recently issued reports on LLOY. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 125 price target on shares of Lloyds Banking Group in a research note on Friday, July 31st. JPMorgan Chase & Co. dropped their target price on shares of Lloyds Banking Group from GBX 171 to GBX 121 and set a “neutral” rating on the stock in a research report on Monday, April 13th. Citigroup boosted their target price on shares of Lloyds Banking Group from GBX 114 to GBX 123 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Berenberg Bank restated a “hold” rating and set a GBX 117 price target on shares of Lloyds Banking Group in a research report on Wednesday, June 24th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 125 price target on shares of Lloyds Banking Group in a research note on Friday, July 31st. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of GBX 114.20.

Lloyds Banking Group Stock Performance

The business has a 50 day simple moving average of GBX 109 and a 200-day simple moving average of GBX 103.13. The firm has a market capitalization of £67.44 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 1.84 and a beta of 0.91.

Lloyds Banking Group (LON:LLOY) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported GBX 4.80 earnings per share for the quarter. Lloyds Banking Group had a return on equity of 11.05% and a net margin of 26.73%. Equities analysts predict that Lloyds Banking Group plc will post 7.3199528 earnings per share for the current fiscal year.

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.