Comerica Bank lifted its position in Lloyds Banking Group (NYSE:LYG) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,050,940 shares of the financial services provider’s stock after acquiring an additional 22,107 shares during the quarter. Comerica Bank’s holdings in Lloyds Banking Group were worth $3,994,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Flagship Harbor Advisors LLC bought a new stake in shares of Lloyds Banking Group in the 4th quarter worth $132,000. Lake Street Advisors Group LLC bought a new position in Lloyds Banking Group during the fourth quarter valued at about $134,000. Dorsey & Whitney Trust CO LLC grew its position in Lloyds Banking Group by 144.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 35,688 shares of the financial services provider’s stock valued at $133,000 after buying an additional 21,084 shares during the period. HighPoint Advisor Group LLC bought a new position in Lloyds Banking Group during the fourth quarter valued at about $142,000. Finally, Icon Wealth Partners LLC bought a new position in Lloyds Banking Group during the fourth quarter valued at about $143,000. Hedge funds and other institutional investors own 2.40% of the company’s stock.
Lloyds Banking Group opened at $3.58 on Friday, according to MarketBeat Ratings. The stock has a market cap of $64.86 billion, a P/E ratio of 6.51 and a beta of 0.87. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.40 and a quick ratio of 1.40. Lloyds Banking Group has a fifty-two week low of $3.55 and a fifty-two week high of $3.57.
The firm also recently announced a semiannual dividend, which will be paid on Friday, June 8th. Shareholders of record on Friday, April 20th will be given a dividend of $0.1141 per share. This represents a yield of 6.01%. The ex-dividend date of this dividend is Thursday, April 19th. This is a positive change from Lloyds Banking Group’s previous semiannual dividend of $0.08. Lloyds Banking Group’s dividend payout ratio (DPR) is currently 41.82%.
Several equities analysts recently weighed in on LYG shares. UBS restated a “buy” rating on shares of Lloyds Banking Group in a research report on Tuesday, April 24th. JPMorgan Chase restated a “buy” rating on shares of Lloyds Banking Group in a research report on Monday, March 19th. Davy Research lowered shares of Lloyds Banking Group from an “outperform” rating to a “neutral” rating in a research report on Wednesday, February 14th. Deutsche Bank restated a “buy” rating on shares of Lloyds Banking Group in a research report on Friday, February 9th. Finally, Zacks Investment Research upgraded shares of Lloyds Banking Group from a “hold” rating to a “buy” rating and set a $4.25 price target for the company in a research report on Tuesday, March 6th. Four analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $4.25.
About Lloyds Banking Group
Lloyds Banking Group plc provides banking and financial services under the Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows brands in the United Kingdom and internationally. The company operates through three segments: Retail, Commercial Banking, and Insurance and Wealth. The Retail segment offers a range of financial service products, including current accounts, savings accounts, mortgages, motor finance, and unsecured consumer lending products to personal and small business customers.
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