Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on LLOYDS BANKING GROUP PLC. We currently have 12 research reports from 3 professional analysts.
|22Mar17 13:00||RNS||Directorate Change|
|21Mar17 13:08||RNS||Notice of AGM|
|16Mar17 14:00||RNS||Directorate Change|
|15Mar17 14:27||RNS||Form 8.3 - Standard Life Plc|
|15Mar17 07:00||RNS||Holding(s) in Company|
|13Mar17 17:55||RNS||Publication of Suppl.Prospcts|
|13Mar17 12:00||RNS||Director/PDMR Shareholding|
Frequency of research reports
Research reports on
LLOYDS BANKING GROUP PLC
LLOYDS BANKING GROUP PLC
Lloyds, Best Of The Banks
23 Feb 17
Lloyds Banking Group PLC (LLOY) reported a strong result for FY-16, which has allowed it to pay a special dividend, plus has encouraged the UK government to reduce its stake in the bank to below 5%. Lloyds’ acquisition of the MBNA credit card business is proceeding on track, with all key M&A metrics being well satisfied. The outlook for Lloyds’ capital base, its profitability and thus the dividend prospects have all improved. This encourages us to ascribe a Buy rating to the stock, with a target price of 80p per share, derived from a prospective Price / Book value of 1.3x and a P/E ratio of 13x which we think are justifiable ratios.
Marked confidence in profitability resilience
22 Feb 17
LBG posted a good set of results at the operating level. Management showed its confidence in the group’s ability to protect its indecent profitability levels over the next three years by recommending an increased ordinary dividend and the payment of a special dividend, and by setting a stable return on required equity objectives.
21 Dec 16
"With markets winding down for the Christmas and New Year break, International equities remain very much the favoured investment. The continuing rout across global bond markets appeared to gather pace yesterday from the fallout of the supposed terrorist attacks in Germany and Turkey, as investor concern for a potentially wider series of IS-directed extremist assaults across Europe’s capitals to unnerve its populations, the backlash of which could result in further sharp swings toward more populist governments during the various presidential and general elections expected in the New Year. Right now the threat may not seem very real, but with the possibility of an early vote to replace Italy’s recently-installed caretaker government and France’s presidential election scheduled for May, well-prepared opposition parties in the shape of Beppe Grillo’s Five Star Movement and Marine le Pen’s National Front etc. are positioned to challenge the very existence of the Eurozone. During these quite exceptional times, with authorities still apparently totally out of touch with their electorate, such a threat simply cannot be discounted, the ultimate cost of which could even be for independent nations to choose reversion to their legacy currencies with the potential to create widespread default. Such lingering fears will likely hinder Europe’s opening this morning, despite the Dow Jones chalking up yet another all-time high overnight, closing just shy of the psychologically important 20,000 mark, with all the principal US markets also making reasonable gains as optimism that Trump-inspired reflation and proposed investment will provide a significant medium-term boost to earnings. Asia was also in a good mood, with broad gains seen in just about all regional markets most notably with even China playing catch-up following a couple of days of weaker trading as economists speculated on the potential for a PBOC-directed tightening of liquidity during Q1’2017. Other than release of Public Sector Net Borrowing figures this morning, the UK is not due to release any significant macro data, while the US is scheduled only to provide MBA Mortgage Applications and Existing Home sales data ahead of a larger swath of figures tomorrow and Friday. Very little is also happening on the corporate front this morning, with earning or trading updates due from just a few second-liners including CH Bailey (BLEY.L), Premaithia Health (NIPT.L) and Water Intelligence (WATR.L). Investors will, however, be keen for any further media comment following the Prime Minister, Theresa May’s reported backing for the UK to be permitted to enter a ‘transitional period’ in order to adjust to the new economic order prospectively resulting from Brexit. Accepting the need for a soft, rather than hard, landing could provide significant relief for those fearful that a clear post-Article 50 plan is still not in place. The FTSE100 is seen around 10 points weaker during this morning’s opening trade. " - Barry Gibb, Research Analyst
20 Dec 16
The group has announced the acquisition of MBNA, BofA’s UK credit business, for a £1.9bn cash consideration. The deal, which would increase LBG’s segment market share by 11ppt to a large 25%, still needs regulatory approval. If so, it is expected to be completed by the end of H1 17. On top of the obvious strategic rationale, the transaction has strong financial appeal.
Another positive verdict
20 Mar 17
Burford’s results for 2016 produced another outstanding set of figures. Revenue grew by 60% to $163.4m with strong growth in the litigation finance business and an additional boost from a secondary sale in the Petersen case. On an underlying basis net income grew to $114m, a 75% increase despite the investment in growing capacity which increased costs. A combination of ongoing investment and gains and increases on valuation saw the fair value of the litigation assets increase 67% to $559m, underpinned by a growth in invested capital to $394m. With the results statement there was an announcement of a further sale of 9% of the Petersen case at a valuation of 20 times the cost of investment.
N+1 Singer - Morning Song 22-03-2017
22 Mar 17
Carador Income Fund (CIFU LN) Premium rating restored, high levels of refinancing activity | Cello Group (CLL LN) Outlook getting brighter – watch Pulsar | Eckoh (ECK LN) Largest ever US secure payments win | eg solutions (EGS LN) Full year results in line | Futura Medical (FUM LN) Licensing deal for CSD500 in Portugal | Verona Pharma (VRP LN) Global agreement with QuintilesIMS to support development of RPL554 | Xaar (XAR LN) 2016 results slightly ahead, reduced visibility in 2017
Small Cap Breakfast
21 Mar 17
First Sentinel—Investment company expecting NEX admission/introduction on 24 March. £636k raised pre-IPO. BioPharma Credit—Expected Gross Initial Acquisition Proceeds now c.$338m. Gross Cash Proceeds capped at $423m with placing and open offer. Results expected 23 March with admission now due 30 march. Tufton Oceanic Assets- The Company intends to invest in a diversified portfolio of second hand commercial sea-going vessels where the Investment Manager believes that an attractive opportunity exists in shipping. $150m raise. Admission 3 April.