HSBC Trims Lloyds Banking Group (LON:LLOY) Target Price to GBX 52

Lloyds Banking Group (LON:LLOY) had its price target decreased by HSBC from GBX 58 ($0.76) to GBX 52 ($0.68) in a research note issued to investors on Thursday morning, Borsen Zeitung reports. HSBC currently has a hold rating on the financial services provider’s stock.

A number of other research analysts have also weighed in on LLOY. Jefferies Financial Group restated a buy rating and issued a GBX 99 ($1.29) target price on shares of Lloyds Banking Group in a report on Wednesday, July 31st. Morgan Stanley restated an overweight rating on shares of Lloyds Banking Group in a report on Friday, July 26th. UBS Group restated a buy rating and issued a GBX 70 ($0.91) target price (down previously from GBX 75 ($0.98)) on shares of Lloyds Banking Group in a report on Monday, July 29th. Shore Capital restated a buy rating on shares of Lloyds Banking Group in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. set a GBX 70 ($0.91) target price on Lloyds Banking Group and gave the company a neutral rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of GBX 68.06 ($0.89).

LLOY stock opened at GBX 49.65 ($0.65) on Thursday. Lloyds Banking Group has a twelve month low of GBX 48.16 ($0.63) and a twelve month high of GBX 66.79 ($0.87). The stock’s 50 day moving average is GBX 54.81 and its 200-day moving average is GBX 59.32. The firm has a market capitalization of $34.91 billion and a PE ratio of 9.37.

The firm also recently declared a dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 8th will be issued a dividend of GBX 1.12 ($0.01) per share. The ex-dividend date of this dividend is Thursday, August 8th. This represents a yield of 2.03%. Lloyds Banking Group’s dividend payout ratio (DPR) is currently 0.57%.

In other news, insider Amanda Mackenzie OBE bought 63,567 shares of the stock in a transaction on Wednesday, August 7th. The shares were purchased at an average cost of GBX 50 ($0.65) per share, for a total transaction of £31,783.50 ($41,530.77). Also, insider George Culmer sold 83,581 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of GBX 58 ($0.76), for a total value of £48,476.98 ($63,343.76). Insiders have sold 842,868 shares of company stock worth $46,588,125 over the last quarter.

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. It 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, unsecured consumer loans, leasing solutions, and credit cards to personal and small business customers.

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Analyst Recommendations for Lloyds Banking Group (LON:LLOY)

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