Lloyds to shrink hundreds of United Kingdom branches to two staff

Lloyds Banking Group PLC

Lloyds Banking Group plc was covered by a number of analysts recently, 0 rated the stock as Strong Buy, 0 rated Buy, 0 rated Hold, 0 rated sell and 0 gave an Underperform.

Shares of Lloyds Banking Group PLC (NYSE:LYG) have been assigned a consensus recommendation of "Hold" from the fifteen brokerages that are now covering the company. Ladenburg Thalmann Financial Services Inc. now owns 44,169 shares of the financial services provider's stock worth $142,000 after buying an additional 6,798 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in Lloyds Banking Group PLC by 18.2% in the fourth quarter.

LONDON-Lloyds Banking Group PLC (LLOY.LN) Monday said the United Kingdom government has lowered its shareholding in the bank to 1.41 billion shares, or about 1.97% of its issued share capital.

Shares of Lloyds Banking Group PLC (NYSE:LYG) remained flat at $3.40 during mid-day trading on Friday. The company has a 1 Year high price target of $2.28. Overall, 3.78 Million shares exchanged hands versus its average trading volume of 7.67 Million shares. Lloyds Banking Group plc's 20-Day Simple Moving Average is -5.39%.

Stock is now moving with a positive distance from the 200 day simple moving average of approximately 6.92%, and has a solid year to date (YTD) performance of 7.1% which means the stock is constantly adding to its value from the previous fiscal year end price.

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Graham Spooner, investment research analyst at the Share Centre, said some investors believe the government stake has acted as a drag on the share price in a sector that is already under pressure.

The difference of 52 week low value as well as 52 week high value and the current price of the stock suggests the next move of the shares.

In 2014, Lloyds said it was going to cut 9,000 jobs over a three-year period and would be closing 29 branches from June this year.

Last month, RBS and NatWest announced that 158 further branches would close, while HSBC is planning to shut 62 branches this year. The Relative Volume value measured for Lloyds Banking Group plc (LYG) is 0.52. The company presently has a consensus rating of Hold and a consensus target price of $3.50. Lloyds Banking Group PLC has a 12 month low of GBX 47.10 and a 12 month high of GBX 74.00.

Similar to ROE, ROIC measures how effectively company management is using invested capital to generate company income.

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