Lloyds Banking Group plc (NYSE:LYG) Sees Large Drop in Short Interest

Lloyds Banking Group plc (NYSE:LYG) saw a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 8,190,000 shares, a decrease of 39.6% from the October 31st total of 13,570,000 shares. Based on an average trading volume of 10,530,000 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.1% of the company’s shares are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Transcend Capital Advisors LLC bought a new position in Lloyds Banking Group during the 2nd quarter valued at approximately $28,000. Interchange Capital Partners LLC bought a new position in Lloyds Banking Group during the 2nd quarter valued at approximately $28,000. Intergy Private Wealth LLC bought a new position in Lloyds Banking Group during the 2nd quarter valued at approximately $29,000. Tcwp LLC bought a new position in Lloyds Banking Group during the 2nd quarter valued at approximately $32,000. Finally, Aletheian Wealth Advisors LLC bought a new position in Lloyds Banking Group during the 3rd quarter valued at approximately $34,000. Institutional investors own 2.15% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on LYG. Citigroup cut Lloyds Banking Group from a “buy” rating to a “neutral” rating in a report on Monday, August 5th. Kepler Capital Markets started coverage on Lloyds Banking Group in a report on Thursday, September 5th. They issued a “hold” rating for the company. The Goldman Sachs Group started coverage on Lloyds Banking Group in a report on Friday, October 4th. They issued a “neutral” rating for the company. Finally, Morgan Stanley cut Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Lloyds Banking Group presently has a consensus rating of “Hold” and a consensus target price of $2.75.

Lloyds Banking Group Stock Up 0.4 %

Shares of NYSE:LYG traded up $0.01 during trading on Thursday, hitting $2.68. The stock had a trading volume of 9,315,516 shares, compared to its average volume of 9,626,294. Lloyds Banking Group has a 12 month low of $2.00 and a 12 month high of $3.24. The company has a market capitalization of $40.99 billion, a PE ratio of 6.88 and a beta of 1.35. The firm’s fifty day moving average is $2.96 and its 200 day moving average is $2.92. The company has a quick ratio of 1.48, a current ratio of 1.45 and a debt-to-equity ratio of 1.76.

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.