tiptrot.com October 17, 2017

Lloyds Bank set to downsize hundreds of branches

06 April 2017, 02:37 | Nichole Osborne

Lloyds Bank set to downsize hundreds of branches

Lloyds Bank set to downsize hundreds of branches

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.

Last October, Philip Hammond, the U.K. Treasury chief, said the government would begin to sell its remaining 9.1% stake in Lloyds in a piecemeal fashion, after withdrawing a planned retail sale, attributing its decision to market volatility.

RBS has been the subject of several recent research reports.

Lloyds Banking Group PLC (NYSE:LYG) has earned a consensus rating of "Hold" from the fifteen brokerages that are covering the company.

TRADEMARK VIOLATION WARNING: "Lloyds Banking Group PLC (LYG) Upgraded to "Hold" by Zacks Investment Research" was originally published by Community Financial News and is the sole property of of Community Financial News.

Lloyds Banking Group PLC (NYSE:LYG) traded up 1.040% on Wednesday, hitting $3.245. EPS breaks down the profitability of the company on a single share basis. The firm has a 50-day moving average of $3.43 and a 200 day moving average of $3.13.

Lloyds Banking Group PLC has PE ratio of 27.63 with a one year low of 47.10GBX and a one year high of 74.00GBX and has a market capitalization of 0 GBX. Now the P/E of Lloyds Banking Group plc (LYG) stands at 23.45. Investors of record on Thursday, April 6th will be paid a dividend of GBX 2.20 ($0.03) per share.

Hedge funds and other institutional investors have recently bought and sold shares of the stock.

Lloyds Banking Group (LON:LLOY) is planning to shrink hundreds of its branches in size as more people switch to digital services, the BBC has reported. Over the last quarter, insiders have purchased 784 shares of company stock valued at $52,758. Creative Planning increased its position in Lloyds Banking Group PLC by 130.6% in the third quarter.

The stock grew about 16.45% in the past 5 years, this positive value indicates that the stock constantly performed well in previous years as well. Finally, Stevens Capital Management LP acquired a new stake in Royal Bank of Scotland Group PLC during the third quarter worth about $333,000. World Asset Management Inc now owns 1,193,034 shares of the financial services provider's stock worth $3,424,000 after buying an additional 88,602 shares during the period.

A Lloyds spokeswoman was quoted by the publication as saying: "Branches are a vital part of our strategy, and we're investing in our network to make sure it's right for the future". If you are reading this story on another publication, it was stolen and republished in violation of worldwide copyright legislation.

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