Lloyds Banking Group (NYSE:LYG) Shares Gap Down – Time to Sell?

Lloyds Banking Group plc (NYSE:LYG) gapped down prior to trading on Friday . The stock had previously closed at $3.23, but opened at $3.08. Lloyds Banking Group shares last traded at $3.05, with a volume of 2,003,008 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on LYG shares. Citigroup downgraded Lloyds Banking Group from a “buy” rating to a “neutral” rating in a research report on Monday, August 5th. Kepler Capital Markets started coverage on shares of Lloyds Banking Group in a research report on Thursday, September 5th. They set a “hold” rating for the company. UBS Group restated a “neutral” rating on shares of Lloyds Banking Group in a research report on Tuesday, July 30th. The Goldman Sachs Group started coverage on shares of Lloyds Banking Group in a research note on Friday, October 4th. They set a “neutral” rating for the company. Finally, Royal Bank of Canada lowered shares of Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a report on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Lloyds Banking Group presently has a consensus rating of “Hold” and a consensus price target of $2.75.

Lloyds Banking Group Stock Performance

The company has a quick ratio of 1.48, a current ratio of 1.45 and a debt-to-equity ratio of 1.89. The firm has a market capitalization of $46.42 billion, a P/E ratio of 8.03 and a beta of 1.34. The company’s 50 day moving average is $3.07 and its 200-day moving average is $2.88.

Lloyds Banking Group (NYSE:LYG) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.09 EPS for the quarter. The business had revenue of $9.55 billion during the quarter. Lloyds Banking Group had a return on equity of 10.34% and a net margin of 12.40%. As a group, equities analysts anticipate that Lloyds Banking Group plc will post 0.32 EPS for the current year.

Institutional Investors Weigh In On Lloyds Banking Group

Several hedge funds and other institutional investors have recently modified their holdings of LYG. Diversify Advisory Services LLC increased its stake in Lloyds Banking Group by 119.6% during the 3rd quarter. Diversify Advisory Services LLC now owns 35,304 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 19,225 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of Lloyds Banking Group by 9.5% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 148,281 shares of the financial services provider’s stock worth $463,000 after acquiring an additional 12,845 shares in the last quarter. Baker Tilly Wealth Management LLC raised its holdings in shares of Lloyds Banking Group by 88.7% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 38,489 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 18,092 shares during the last quarter. Arkadios Wealth Advisors bought a new position in Lloyds Banking Group in the 3rd quarter valued at about $42,000. Finally, Ballentine Partners LLC boosted its stake in Lloyds Banking Group by 16.9% during the 3rd quarter. Ballentine Partners LLC now owns 147,493 shares of the financial services provider’s stock valued at $460,000 after purchasing an additional 21,276 shares during the last quarter. Institutional investors own 2.15% of the company’s stock.

Lloyds Banking Group Company Profile

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom and internationally. It operates in three segments: Retail; Commercial Banking; and Insurance, Pensions and Investments. The Retail segment offers a range of financial service products, including current accounts, savings, mortgages, motor finance, unsecured loans, leasing solutions, and credit cards to personal customers.