Berenberg Upgrades Lloyds Banking Group PLC (ADR) to Hold

Brokerage firm Berenberg Upgrades its rating on Lloyds Banking Group PLC (ADR)(NYSE:LYG). The shares have been rated Hold. Previously, the analysts had a Sell rating on the shares. The rating by Berenberg was issued on Jul 26, 2016.

Lloyds Banking Group PLC (ADR) (LYG) made into the market gainers list on Fridays trading session with the shares advancing 1.42% or 0.04 points. Due to strong positive momentum, the stock ended at $2.86, which is also near the day’s high of $2.89. The stock began the session at $2.88 and the volume stood at 37,63,887 shares. The 52-week high of the shares is $5.43 and the 52 week low is $2.47. The company has a current market capitalization of $51,090 M and it has 17,86,36,64,000 shares in outstanding.

Lloyds Banking Group plc is engaged in providing financial services to individual and business customers in the United Kingdom and in certain locations overseas. The Company offers retail and commercial banking and long-term savings protection and investment. It operates through five segments: Retail Commercial Banking Consumer Finance Insurance and TSB Banking Group plc (TSB). Retail segment provides banking mortgages and other financial services to personal customers in the United Kingdom. Commercial Banking segment provides banking and related services to business clients. Consumer Finance segment provides asset finance and credit card products. Insurance segment provides long-term savings protection and investment products as well as general insurance products in the United Kingdom. TSB is engaged in retail banking business. Its services are offered through various brands including Lloyds Bank Halifax Bank of Scotland and Scottish Widows.

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