LLOY LN (Update)
Lloyds Banking Group PLC
Finance/Real Estate
04/07/2014
Presented
| Date | 04/02/2014 |
| Price | £0.77 |
| Market Cap | $83.10B |
| Ent Value | $86.72B |
| P/E Ratio | 5089.38x |
| Book Value | £0.79 |
| Div Yield | N/A |
| Shares O/S | 71,301.62M |
| Ave Daily Vol | 149,400,000 |
| Short Int | N/A |
Current
| Price | £0.60 |
| Market Cap | $56.56B |
| Lloyds Banking Group plc provides a range of banking and financial services to individuals and businesses in the United Kingdom and internationally. It operates through four segments: Retail; Commercial Banking; Wealth, Asset Finance, and International; and Insurance. The Retail segment offers a range of retail financial service products, such as current accounts, savings, personal loans, credit cards, and mortgages under the Lloyds Bank, Halifax, TSB, and Bank of Scotland brands. This segment also distributes general insurance and bancassurance products; and sells long-term savings, investment, and general insurance products. The Commercial Banking segment provides banking and related services to business clients, from small and medium-sized enterprises to corporate and financial institutions. The Wealth, Asset Finance, and International segment offers private banking and asset management and asset finance; and operates international retail businesses. The Insurance segment provides long-term savings, protection, and investment products through the bancassurance, intermediary, and direct channels; and life, pensions, and investment products, as well as home insurance products through the retail branch network, direct channels, and strategic corporate partners. This segment offers its products under the Lloyds Bank, Halifax, Bank of Scotland, TSB, and Scottish Widows brands. Lloyds Banking Group plc was founded in 1695 and is headquartered in London, the United Kingdom. |
Please note, this is an update to Long - Lloyds Banking Group plc (LLOY LN), which was originally presented on 1/22/2014. As well, this idea was updated again on 9/22/2014 and can be read here: Long - Lloyds Banking Group plc (LLOY LN).
Highlights
Lloyds Banking (LLOY) is roughly 2/3 of the way done with its restructuring, and the UK government’s stake is now down to 25% as they have been selling into the rising market. The presenter said their Tier 1 capital ratio is at a respectable level (10.3% at year’s end, up over two points in one year) and he is long shares as he expects this ratio to cross the 11% threshold over the course of 2014 as they generate ~2.5% of capital over the next couple of years. In the out years, he is modeling one-to-two points of capital improvement per-year. Additionally, CEO António Horta Osório is excellent and has room to work within LLOY’s cost cutting program (e.g., they have yet to close any bank branches).
◆Signing up and creating account with us unlocks this content for you. Contact us today for full access to DeMatteo Research and more.
◆Signing up and creating account with us unlocks this content for you. Contact us today for full access to DeMatteo Research and more.