Govt Lloyds stake dips below 2% as bank shrinks branches

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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.

The UK taxpayer's stake in Lloyds Banking Group has dropped to below 2% of the business as the Government continues its efforts to return the bank to private hands.

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. TheStreet raised shares of Lloyds Banking Group PLC from a "d+" rating to a "c" rating in a report on Wednesday, February 22nd.

Lloyds' share price has advanced in today's session, having added 0.91 percent to 66.63p as of 08:44 BST, slightly outperforming the benchmark FTSE 100 index which is now 0.52 percent better off at 7,320.39 points.

In other Lloyds news, Jefferies reiterated its "buy" rating on the bailed-out lender yesterday, flagging NIM benefits for the group.

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COPYRIGHT VIOLATION NOTICE: "Lloyds Banking Group PLC (LYG) Given Average Recommendation of "Hold" by Analysts" was originally published by BBNS and is the property of of BBNS. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & worldwide copyright & trademark laws. NWQ Investment Management Company LLC raised its stake in Royal Bank of Scotland Group PLC by 34.1% in the fourth quarter.

So the taxpayers' shareholding in the bank is now at 1.97 per cent, and up until recently, the government had been Lloyds' largest shareholder. Finally, Capstone Asset Management Co. increased its position in Lloyds Banking Group PLC by 3.4% in the third quarter.

Earnings per share (EPS) is the portion of a company's profit allocated to each outstanding share of common stock. Lloyds Banking Group PLC's payout ratio is presently 130.00%. Hedge funds and other institutional investors own 1.69% of the company's stock. The average numbers of shares are traded in a security per day, during the recent 3-month period. The average volume of a stock suggests the liquidity of a particular company. The firm has a market capitalization of $57.28 billion, a PE ratio of 27.042 and a beta of 1.17. The stock has a 50 day moving average price of GBX 241.37 and a 200-day moving average price of GBX 214.20.

LYG has a 1-year high price of $4.42 and 1-year low price of $2.47.

Lloyds Banking Group is to shrink the size of hundreds of its branches so they have only two staff helping customers with tablet computers.

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