Lloyds Banking Group PLC (LLOY) Price Target Cut to GBX 68
Lloyds Banking Group PLC (LON:LLOY) had its price objective lowered by stock analysts at Investec from GBX 79 ($1.05) to GBX 68 ($0.91) in a research report issued on Wednesday. The brokerage currently has a “buy” rating on the financial services provider’s stock. Investec’s price target would indicate a potential upside of 18.01% from the stock’s current price.
In other news, insider Horta-Osorio,Antonio purchased 2,920 shares of the business’s stock in a transaction on Friday, June 17th. The stock was purchased at an average price of GBX 65 ($0.87) per share, for a total transaction of £1,898 ($2,527.97). Also, insider Frew,Anita purchased 50,000 shares of the business’s stock in a transaction on Wednesday, June 29th. The stock was purchased at an average price of GBX 55 ($0.73) per share, with a total value of £27,500 ($36,627.60).
Lloyds Banking Group PLC (LON:LLOY) traded down 0.79% during midday trading on Wednesday, hitting GBX 57.62. The stock had a trading volume of 175,578,169 shares. The stock’s 50 day moving average price is GBX 55.75 and its 200-day moving average price is GBX 63.46. The company’s market cap is GBX 33.43 billion. Lloyds Banking Group PLC has a 52 week low of GBX 47.10 and a 52 week high of GBX 78.02.
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The company also recently declared a dividend, which will be paid on Wednesday, September 28th. Shareholders of record on Thursday, August 11th will be paid a GBX 0.85 ($0.01) dividend. This represents a yield of 1.62%. The ex-dividend date of this dividend is Thursday, August 11th.
A number of other research analysts have also weighed in on the stock. Deutsche Bank AG lowered shares of Lloyds Banking Group PLC to a “hold” rating and cut their target price for the stock from GBX 60 ($0.80) to GBX 59 ($0.79) in a research report on Monday. Citigroup reissued a “sell” rating and set a GBX 53 ($0.71) target price on shares of Lloyds Banking Group PLC in a research report on Wednesday, August 31st. RBC Capital Markets set a GBX 70 ($0.93) target price on shares of Lloyds Banking Group PLC and gave the stock a “buy” rating in a research report on Monday, August 15th. Royal Bank Of Canada cut their target price on shares of Lloyds Banking Group PLC from GBX 75 ($1.00) to GBX 70 ($0.93) and set an “outperform” rating for the company in a research report on Monday, August 15th. Finally, JPMorgan Chase & Co. cut their target price on shares of Lloyds Banking Group PLC from GBX 65 ($0.87) to GBX 62 ($0.83) and set a “neutral” rating for the company in a research report on Thursday, August 11th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company. Lloyds Banking Group PLC has an average rating of “Hold” and an average target price of GBX 69.74 ($0.93).
LLOYDS BANKING GROUP plc provides financial services to individual and business customers in the United Kingdom but also overseas. The Company’s business activities include retail and commercial banking, long-term savings, protection and investment. It operates through its segments, including Retail, Commercial Banking, Consumer Finance and Insurance.
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