Lloyds Banking Group (LON:LLOY) Reaches New 12-Month High - Time to Buy?

Shares of Lloyds Banking Group plc (LON:LLOY) achieved a remarkable milestone on Thursday by hitting a new 52-week high. During trading, the stock price reached a peak of GBX 193 ($2.48) before settling at GBX 73.27 ($0.94), with a significant trading volume of 242,791,766 shares. The previous closing price was GBX 73.36 ($0.94).

Lloyds Banking Group Alerts:

Analyst Ratings Changes

Recent reports from financial analysts indicate varied opinions about Lloyds Banking Group's performance. Shore Capital maintained a "hold" rating for the company’s shares in a report published on February 20th. On a different note, JPMorgan Chase & Co. revised their target price for the bank from GBX 62 ($0.80) to GBX 71 ($0.91), while assigning an "underweight" rating in a report released on Tuesday. Additionally, Citigroup raised their price target for Lloyds from GBX 61 ($0.79) to GBX 71 ($0.91) and rated the stock as a "buy" on March 6th. To date, one analyst has provided a sell rating, four analysts have given a hold rating, and one analysts has recommended a buy, leading to an overall average rating of "Hold" with a consensus price target of GBX 62.40 ($0.80) according to MarketBeat.

Stock Performance Overview

Lloyds Banking Group currently holds a market capitalization of £44.39 billion, with a price-to-earnings (P/E) ratio of 9.26 and a price-to-earnings-growth (PEG) ratio of 1.84. The stock has a beta of 1.23, indicating a greater volatility compared to the overall market. As for its moving averages, the 50-day simple moving average is GBX 66.14, and the 200-day simple moving average is GBX 59.69.

The company released its latest earnings report on February 20th, revealing earnings per share (EPS) of GBX 6.30 ($0.08) for the quarter. Furthermore, Lloyds boasts a return on equity of 11.22% with a net margin of 16.66%. Analysts predict that the EPS for the current fiscal year will be around 7.32.

Lloyds Banking Group Increases Dividend

In positive financial news, Lloyds Banking Group announced an upcoming dividend payment to be made on May 20th. Shareholders listed on the record as of April 10th will receive a dividend of GBX 2.11 ($0.03), marking an increase from the prior dividend of $1.06. The ex-dividend date is also set for April 10th, and this dividend represents a yield of 3.01% with a payout ratio currently at 37.95%.

Insider Activity

In other noteworthy updates, insider William Chalmers conducted a transaction on March 21st, selling 11,338 shares at an average price of GBX 70 ($0.90), totaling approximately £7,936.60 ($10,218.36). Corporate insiders currently hold 0.17% of the company's shares.

Company Background

Lloyds Banking Group is recognized as the largest retail and commercial financial services provider in the UK, serving over 25 million customers across nearly every community. Its key business operations include retail and commercial banking, general insurance, and long-term savings, featuring prominent brands like Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows. The company is publicly traded on both the London and New York stock exchanges and qualifies as one of the leading firms in the FTSE 100 index.

Investment Considerations

While Lloyds Banking Group currently holds a "Hold" rating among analysts, research from top-rated analysts has shown that other stocks may offer better investment opportunities at this time. Investors considering a $1,000 allocation in Lloyds should conduct thorough research and evaluate alternative options recommended by analysts.

Lloyds, Banking, Stocks