JPMorgan Chase & Co. Boosts Lloyds Banking Group (LON:LLOY) Price Target to GBX 62

Lloyds Banking Group (LON:LLOY) had its price objective lifted by research analysts at JPMorgan Chase & Co. from GBX 55 ($0.69) to GBX 62 ($0.78) in a report released on Tuesday,Digital Look reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 9.65% from the stock’s previous close.

Separately, Shore Capital restated a “hold” rating on shares of Lloyds Banking Group in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of GBX 58 ($0.73).

Lloyds Banking Group Trading Up 1.9 %

Shares of LON LLOY traded up GBX 1.30 ($0.02) during mid-day trading on Tuesday, reaching GBX 68.62 ($0.87). The company had a trading volume of 222,825,781 shares, compared to its average volume of 160,215,703. The stock has a market cap of £41.61 billion, a price-to-earnings ratio of 8.68, a price-to-earnings-growth ratio of 1.84 and a beta of 1.23. Lloyds Banking Group has a 52 week low of GBX 45.49 ($0.57) and a 52 week high of GBX 69.23 ($0.87). The business’s 50-day moving average is GBX 58.89 and its 200-day moving average is GBX 57.67.

Lloyds Banking Group (LON:LLOY) last issued its earnings results on Thursday, February 20th. The financial services provider reported GBX 6.30 ($0.08) EPS for the quarter. Lloyds Banking Group had a net margin of 16.66% and a return on equity of 11.22%. As a group, equities research analysts forecast that Lloyds Banking Group will post 7.3199528 earnings per share for the current year.

Insider Activity

In related news, insider William Chalmers purchased 128,804 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were acquired at an average cost of GBX 54 ($0.68) per share, for a total transaction of £69,554.16 ($87,776.58). Company insiders own 0.17% of the company’s stock.

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.