LYG Stock Recent News

Deutsche Bank has initiated coverage of Lloyds Banking Group PLC (LSE:LLOY) with a 'buy' rating and a price target of 61 pence with analysts expecting margins to stabilise in the third quarter. The benefits of what it described as a 'structural hedge' are likely to offset the adverse effects of potential base rate cuts, it added.

Lloyds Banking Group PLC (LSE:LLOY) and other high street lenders have begun debanking hundreds of defence companies as they become more strict on their internal ethics policies, sparking fears that the UK's national security may be at risk.  Santander and Lloyds were named as lenders which closed the accounts of around 300 "public administration and defence" companies throughout last year, reports from the Telegraph revealed on Wednesday.

Lloyd's of London (SOLYD.UL) insurers Hiscox and Lancashire do not expect large insurance claims from the collapse of Baltimore's Francis Scott Key Bridge in March that caused widespread disruption, they said on Thursday.

Shares in Lloyds Banking Group PLC (LSE:LLOY) and the other UK banks enjoyed a strong earnings season, analysts at UBS have highlighted. Results released last week have injected fresh confidence into the sector, the Swiss bank's note highlighted.

Lloyds Banking Group PLC's (LSE:LLOY) residential landlord arm has snapped up over 150 new properties from housebuilder Barratt Developments PLC (LSE:BDEV). The 156 houses, situated in Matson, near Gloucester, will be offered to renters by Lloyd's Citra Living arm, adding to its portfolio of more than 2,000 properties across the country.

Lloyds Bank expects the housing market to have turned up again by the end of 2024 as the cost of mortgages becomes cheaper. Speaking after first quarter numbers this morning, finance head William Chalmers said the bank is now pricing in a 1.5% rise in house prices this year compared to earlier estimates of a dip of 2.2%.

Analysts said Lloyds Banking Group PLC's (LSE:LLOY) disappointed with some first-quarter respects but there was plenty to be positive about, as shares in the UK's largest lender swung from early losses to gains in early afternoon.  In short, profit was 2% below the consensus City forecast, with misses on net interest income (NII) and costs largely offset by lower-than-expected impairment charges.

Lloyds Banking Group PLC (LSE:LLOY) reported first-quarter profits slightly ahead of expectations despite lower income and higher costs, with no extra charges against the ongoing regulatory probe into the motor finance sector. Guidance for the full year was maintained, with margins expected to tighten further but not enough to prevent further shareholder returns.

Lloyds Banking Group reported its first quarter profit fell 28%, in line with analyst expectations, as peaking interest rates and rising competition in the mortgage market squeezed margins.

Lloyds (LON: LLOY) share price is sitting at an important level ahead of the company's financial results. The stock is nearing the year-to-date high of 52.35p, its highest point this year as the FTSE 100 index has jumped to a record high.