Lloyds Banking Group PLC (NYSE:LYG) Short Interest Up 69.0% in August

Lloyds Banking Group PLC (NYSE:LYG) was the recipient of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 2,803,823 shares, an increase of 69.0% from the July 30th total of 1,659,386 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 12,929,713 shares, the days-to-cover ratio is currently 0.2 days.

Lloyds Banking Group Trading Down 0.8%

Shares of LYG stock traded down $0.05 on Monday, reaching $5.87. The company had a trading volume of 11,714,889 shares, compared to its average volume of 19,282,518. The stock has a market cap of $85.33 billion, a PE ratio of 13.65, a PEG ratio of 0.60 and a beta of 0.87. The company has a 50-day moving average of $6.02 and a 200-day moving average of $5.60. The company has a current ratio of 1.52, a quick ratio of 0.56 and a debt-to-equity ratio of 2.12. Lloyds Banking Group has a 12 month low of $4.20 and a 12 month high of $6.34.

Lloyds Banking Group (NYSE:LYG) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). The firm had revenue of $6.57 billion for the quarter, compared to the consensus estimate of $6.86 billion. Lloyds Banking Group had a return on equity of 10.94% and a net margin of 24.97%. On average, equities analysts forecast that Lloyds Banking Group will post 0.55 earnings per share for the current year.

Lloyds Banking Group Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, September 25th. Stockholders of record on Monday, August 10th will be given a dividend of $0.084 per share. This represents a dividend yield of 273.0%. The ex-dividend date of this dividend is Monday, August 10th. Lloyds Banking Group’s dividend payout ratio (DPR) is currently 37.21%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Morgan Stanley restated an “overweight” rating on shares of Lloyds Banking Group in a research report on Tuesday, June 30th. Citigroup reissued a “buy” rating on shares of Lloyds Banking Group in a research note on Thursday, July 16th. Keefe, Bruyette & Woods cut shares of Lloyds Banking Group from a “moderate buy” rating to a “hold” rating in a research note on Friday, July 17th. Weiss Ratings upgraded shares of Lloyds Banking Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 21st. Finally, Wall Street Zen downgraded Lloyds Banking Group from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Institutional Trading of Lloyds Banking Group

A number of large investors have recently made changes to their positions in the company. HB Wealth Management LLC lifted its holdings in Lloyds Banking Group by 8.6% during the second quarter. HB Wealth Management LLC now owns 89,313 shares of the financial services provider’s stock worth $521,000 after acquiring an additional 7,050 shares in the last quarter. Angeles Wealth Management LLC grew its position in shares of Lloyds Banking Group by 5.1% in the 2nd quarter. Angeles Wealth Management LLC now owns 41,818 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 2,031 shares during the period. William John Sempolinski bought a new stake in Lloyds Banking Group during the 2nd quarter worth approximately $426,000. Greenspring Advisors LLC increased its stake in Lloyds Banking Group by 4.6% during the 2nd quarter. Greenspring Advisors LLC now owns 61,884 shares of the financial services provider’s stock worth $361,000 after purchasing an additional 2,738 shares in the last quarter. Finally, Aletheian Wealth Advisors LLC acquired a new stake in Lloyds Banking Group during the 2nd quarter worth approximately $71,000. Institutional investors own 2.15% of the company’s stock.

Lloyds Banking Group Company Profile

Lloyds Banking Group plc is a UK-based banking and financial services company that provides a broad range of retail, commercial and insurance products. Its principal consumer-facing brands include Lloyds Bank, Halifax and Bank of Scotland, through which it offers current accounts, savings, mortgages, credit cards and personal loans. The group also delivers services to small and medium-sized enterprises (SMEs) and larger corporate clients, supplying business accounts, lending, payments and cash-management solutions.

In addition to core banking, Lloyds operates a significant wealth and insurance arm under the Scottish Widows brand, offering life insurance, pensions, investment and retirement planning products.