Lloyds Banking Group PLC (NYSE:LYG) Sees Large Decrease in Short Interest

Lloyds Banking Group PLC (NYSE:LYG) was the recipient of a large decline in short interest in July. As of July 31st, there was short interest totaling 1,659,386 shares, a decline of 49.3% from the July 15th total of 3,270,365 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 17,259,911 shares, the short-interest ratio is presently 0.1 days.

Institutional Trading of Lloyds Banking Group

Institutional investors and hedge funds have recently modified their holdings of the business. WCM Investment Management LLC purchased a new position in Lloyds Banking Group during the first quarter worth about $128,228,000. Equitable Trust Co. purchased a new stake in shares of Lloyds Banking Group in the 1st quarter valued at approximately $1,906,000. Assetmark Inc. increased its holdings in shares of Lloyds Banking Group by 12.7% during the 1st quarter. Assetmark Inc. now owns 3,849,993 shares of the financial services provider’s stock worth $19,365,000 after buying an additional 433,849 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Lloyds Banking Group by 70.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 482,149 shares of the financial services provider’s stock valued at $2,425,000 after buying an additional 199,701 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in Lloyds Banking Group by 9.6% in the first quarter. Cetera Investment Advisers now owns 1,970,659 shares of the financial services provider’s stock valued at $9,912,000 after acquiring an additional 172,594 shares during the last quarter. Institutional investors own 2.15% of the company’s stock.

Analyst Ratings Changes

LYG has been the subject of several research analyst reports. Keefe, Bruyette & Woods lowered shares of Lloyds Banking Group from a “moderate buy” rating to a “hold” rating in a report on Friday, July 17th. Berenberg Bank started coverage on Lloyds Banking Group in a report on Wednesday, June 24th. They set a “hold” rating on the stock. Citigroup reissued a “buy” rating on shares of Lloyds Banking Group in a research report on Thursday, July 16th. Morgan Stanley restated an “overweight” rating on shares of Lloyds Banking Group in a research note on Tuesday, June 30th. Finally, UBS Group raised Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research note on Thursday, April 30th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Lloyds Banking Group has a consensus rating of “Moderate Buy”.

Lloyds Banking Group Stock Down 0.6%

LYG stock traded down $0.04 during trading on Monday, hitting $6.17. 8,148,488 shares of the stock traded hands, compared to its average volume of 19,795,465. The stock has a market cap of $89.69 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 0.63 and a beta of 0.87. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.52 and a quick ratio of 0.56. Lloyds Banking Group has a 1 year low of $4.20 and a 1 year high of $6.34. The firm’s 50 day moving average is $5.92 and its two-hundred day moving average is $5.60.

Lloyds Banking Group (NYSE:LYG) last issued its earnings results on Thursday, July 30th. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). Lloyds Banking Group had a return on equity of 10.94% and a net margin of 24.97%.The firm had revenue of $6.57 billion during the quarter, compared to analysts’ expectations of $6.86 billion. On average, sell-side analysts anticipate that Lloyds Banking Group will post 0.55 EPS for the current year.

Lloyds Banking Group Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, September 25th. Investors of record on Monday, August 10th will be given a $0.084 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a yield of 273.0%. Lloyds Banking Group’s dividend payout ratio is 37.21%.

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.