Lloyds misses out as European banks see 15th quarterly consensus beat
European banks outperformed consensus expectations for the 15th consecutive quarter over the first three months of the year, Jefferies analysts have pointed out. Aggregate pre-tax profits came in 9% above consensus, driven by higher revenues and lower credit costs, analysts said in a note.
Private Advisor Group LLC Sells 36,028 Shares of Lloyds Banking Group plc (NYSE:LYG)
Private Advisor Group LLC cut its holdings in shares of Lloyds Banking Group plc (NYSE:LYG – Free Report) by 14.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,704 shares of the financial services provider’s stock after selling 36,028 shares during the quarter. Private Advisor Group LLC’s holdings in Lloyds Banking Group were worth $506,000 at the end of the most recent reporting period. A number of other large investors also recently modified their holdings of the business. Kestra Private Wealth Services LLC increased its holdings in Lloyds Banking Group by 29.7% during the fourth quarter. Kestra Private Wealth Services LLC now owns 21,006 shares of the financial services provider’s stock worth $50,000 after buying an additional 4,813 shares during the last quarter. Lake Street Advisors Group LLC grew its position in shares of Lloyds Banking Group by 10.0% in the 3rd quarter. Lake Street Advisors Group LLC now owns 54,118 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 4,915 shares during the period. Stratos Wealth Partners LTD. increased its stake in shares of Lloyds Banking Group by 22.1% during the 4th quarter. Stratos Wealth Partners LTD. now owns 28,485 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 5,152 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Lloyds Banking Group by 36.4% in the 4th quarter. Allworth Financial LP now owns 21,032 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 5,609 shares during the period. Finally, NewEdge Wealth LLC lifted its stake in Lloyds Banking Group by 1.4% in the 3rd quarter. NewEdge Wealth LLC now owns 432,976 shares of the financial services provider’s stock valued at $922,000 after purchasing an additional 6,025 shares during the last quarter. 2.15% of the stock is currently owned by institutional investors and hedge funds. Lloyds Banking Group Price Performance Shares of NYSE:LYG opened at $2.82 on Monday. Lloyds Banking Group plc has a one year low of $1.88 and a one year high of $2.83. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market cap of $44.57 billion, a price-to-earnings ratio of 7.42, a PEG ratio of 1.18 and a beta of 1.34. The firm has a 50 day simple moving average of $2.59 and a 200 day simple moving average of $2.35. Lloyds Banking Group (NYSE:LYG – Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.09 earnings per share for the quarter. Lloyds Banking Group had a return on equity of 10.35% and a net margin of 13.41%. The company had revenue of $14.35 billion for the quarter. Research analysts predict that Lloyds Banking Group plc will post 0.32 earnings per share for the current fiscal year. Lloyds Banking Group Cuts Dividend The company also recently disclosed a semi-annual dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, April 12th will be paid a $0.046 dividend. This represents a dividend yield of 5.9%. The ex-dividend date of this dividend is Thursday, April 11th. Lloyds Banking Group’s dividend payout ratio is currently 47.37%. Wall Street Analyst Weigh In LYG has been the subject of several research analyst reports. Bank of America upgraded Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research note on Thursday, March 21st. Berenberg Bank assumed coverage on shares of Lloyds Banking Group in a research report on Thursday, April 25th. They set a “hold” rating and a $2.75 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Lloyds Banking Group in a research report on Thursday, May 9th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $52.55. Check Out Our Latest Report on Lloyds Banking Group Lloyds Banking Group Company Profile (Free Report) 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.
