Lloyds Banking Group plc (NYSE:LYG – Get Free Report) declared a semi-annual dividend on Thursday, July 25th, Wall Street Journal reports. Stockholders of record on Monday, August 5th will be paid a dividend of 0.0546 per share by the financial services provider on Friday, September 20th. This represents a dividend yield of 4.4%. The ex-dividend date of this dividend is Monday, August 5th. This is an increase from Lloyds Banking Group’s previous semi-annual dividend of $0.05.
Lloyds Banking Group has a payout ratio of 51.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Lloyds Banking Group to earn $0.38 per share next year, which means the company should continue to be able to cover its $0.19 annual dividend with an expected future payout ratio of 50.0%.
Lloyds Banking Group Trading Up 1.0 %
Shares of NYSE LYG opened at $3.09 on Friday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.48 and a current ratio of 1.48. The firm’s 50 day moving average price is $2.86 and its 200-day moving average price is $2.56. Lloyds Banking Group has a 52-week low of $1.88 and a 52-week high of $3.11. The company has a market cap of $48.29 billion, a PE ratio of 8.13 and a beta of 1.35.
Analyst Ratings Changes
Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Lloyds Banking Group in a report on Thursday, May 9th. They set a “buy” rating for the company. Royal Bank of Canada cut shares of Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a report on Friday. Berenberg Bank assumed coverage on shares of Lloyds Banking Group in a report on Thursday, April 25th. They set a “hold” rating and a $2.75 target price for the company. Finally, BNP Paribas upgraded shares of Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research report on Friday, July 5th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Lloyds Banking Group has an average rating of “Moderate Buy” and an average price target of $44.25.
Check Out Our Latest Stock Analysis on LYG
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.
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