JPMorgan Chase & Co. Raises Lloyds Banking Group (LON:LLOY) Price Target to GBX 71

Lloyds Banking Group (LON:LLOY) had its price target lifted by investment analysts at JPMorgan Chase & Co. from GBX 62 ($0.80) to GBX 71 ($0.92) in a report released on Tuesday,Digital Look reports. The firm presently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 3.16% from the company’s previous close.

Other analysts also recently issued research reports about the company. Citigroup lifted their target price on Lloyds Banking Group from GBX 61 ($0.79) to GBX 71 ($0.92) and gave the company a “buy” rating in a research note on Thursday, March 6th. Shore Capital restated a “hold” rating on shares of Lloyds Banking Group in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of GBX 62.40 ($0.81).

Lloyds Banking Group Stock Up 1.3 %

Shares of LON:LLOY traded up GBX 0.96 ($0.01) during trading on Tuesday, hitting GBX 73.32 ($0.95). 2,147,000,000 shares of the company traded hands, compared to its average volume of 208,044,625. The stock has a market capitalization of £44.46 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 1.84 and a beta of 1.23. Lloyds Banking Group has a one year low of GBX 49.42 ($0.64) and a one year high of GBX 74.46 ($0.96). The business’s fifty day moving average is GBX 65.42 and its 200-day moving average is GBX 59.47.

Lloyds Banking Group (LON:LLOY) last issued its earnings results on Thursday, February 20th. The financial services provider reported GBX 6.30 ($0.08) earnings per share for the quarter. Lloyds Banking Group had a return on equity of 11.22% and a net margin of 16.66%. On average, analysts forecast that Lloyds Banking Group will post 7.3199528 EPS for the current year.

Insiders Place Their Bets

In related news, insider William Chalmers sold 11,338 shares of Lloyds Banking Group stock in a transaction on Friday, March 21st. The stock was sold at an average price of GBX 70 ($0.90), for a total value of £7,936.60 ($10,255.33). 0.17% of the stock is owned by company insiders.

About Lloyds Banking Group

We are the largest UK retail and commercial financial services provider with over 25 million customers and a presence in nearly every community.

The Group’s main business activities are retail and commercial banking, general insurance and long-term savings, provided through the largest branch network and digital bank in the UK, with well recognised brands including Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows.

Our shares are quoted on the London and New York stock exchanges and we are one of the largest companies in the FTSE 100 index.