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Lloyds Banking Group Plc was incorporated in the year 1765 and is engaged in diversified financial and banking services primarily in the UK. Its product portfolio comprises current and savings accounts, credit and debit cards, short and long-term loans, unsecured loans, mortgages, protection and investment products, motor finance, and bonds & syndicated loans. The group also offers services such as wealth management, leasing, capital markets services, foreign exchange, and private equity.
On May 02, 2019, the banking group reported its first quarter results for the period ended March 31, 2019. The groupâs reported Net Interest Income in Q1 of FY2019 decreased by 3% to £3,083 mn. However, because of the 7 per cent rise in the other income during the first quarter of 2019, Net Income surged by 2 per cent to £4,420 mn.
Statutory profit post-tax improved by 2 per cent to £1,200 mn from £1,171 mn in the corresponding period of the previous financial year. Earnings per share improved by 2 per cent to 1.49 pence from 1.47 pence in the Q1 FY18.
However, the Net Interest Margin during the first quarter period declined by 2 bps to 2.91% from 2.93%. For the quarter ended March 31, 2019, the interest-earning banking assets stood at £433 bn and marginally contracted against the Q1 of FY18.
The cost-to-income ratio for the quarter stood at 44.7%, and the Asset quality ratio stood at 0.25%. The return on tangible equity (underlying) during the first quarter stood at 17% as compared with 15.4% during the first quarter of the previous year.
Stock Performance
Daily price chart (as on May 07, 2019), before the market close. (Source: Thomson Reuters)
At the current market price (as on May 07, 11:12 AM GMT), the shares of Lloyds Banks Plc were quoting at GBX 61.865 and declined by 1.26% against the previous day close. During the past one-year, the stock has registered a 52w high of GBX 68.73 and a 52w low of GBX 49.52 and at the current price level, shares were trading around 27% above the 52w low price level. From the simple moving average (SMA) standpoint, shares were trading above the 200-day simple moving average price level, that indicates the shares have the potential to go up further from the current price level.
In the past year, the stock has delivered a negative price return of 3.15%, but on a year-to-date basis, the stock was up by 21% respectively.
From the volume standpoint, the 5-day daily average volume traded on the London Stock Exchange was 2.38% below the 30-day average volume traded on the stock exchange.
Total outstanding market capitalisation stood at £43.76 bn, which ranks it among the large-cap stock listed on the London Stock Exchange and a constituent of FTSE 100 index as well. Dividend yield of the company stood at 5.12% which was above the dividend yield of the FTSE 100 index.
