Lloyds Banking Group (LON:LLOY) Share Price Passes Above 200 Day Moving Average – Here’s Why

Lloyds Banking Group plc (LON:LLOY)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 56.21 ($0.73) and traded as high as GBX 61.20 ($0.80). Lloyds Banking Group shares last traded at GBX 61.20 ($0.80), with a volume of 164,722,212 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LLOY shares. Shore Capital restated a “hold” rating on shares of Lloyds Banking Group in a research note on Thursday, July 25th. Citigroup reaffirmed a “neutral” rating on shares of Lloyds Banking Group in a research report on Monday, September 2nd. Berenberg Bank reissued a “hold” rating and issued a GBX 55 ($0.72) target price on shares of Lloyds Banking Group in a report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. upped their price target on Lloyds Banking Group from GBX 50 ($0.65) to GBX 54 ($0.71) and gave the company an “underweight” rating in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of GBX 56.33 ($0.74).

Lloyds Banking Group Stock Up 0.5 %

The firm’s fifty day simple moving average is GBX 58.51 and its two-hundred day simple moving average is GBX 56.32. The firm has a market cap of £38.10 billion, a PE ratio of 888.29, a P/E/G ratio of 1.84 and a beta of 1.23.

Lloyds Banking Group Cuts Dividend

The firm also recently declared a dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 1st were issued a GBX 1.06 ($0.01) dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a yield of 1.78%. Lloyds Banking Group’s dividend payout ratio is presently 4,285.71%.

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.