Lloyds Banking Group Share Price Falls Amidst Investigation Fears
Despite showing early promise, Tuesday was a fairly static day for Lloyds Banking Group (LLOY) shares. They opened the day at 76.54p and soon rose to 76.93. However, they gradually fell over the course of the day and closed at 76.40p down 0.34%. The shares are now down 1.11% for the week but are still up 2.04% for the month.
While the shares have a range of broker assessments, many of the brokers have not changed them in recent weeks. Yesterday Deutsche Bank reiterated its ‘Buy’ assessment and kept the target price at 97p. Exane BNP Paribas has reiterated its ‘Outperform’ assessment and has set a target price of 115p.
Investors are unlikely to have much confidence in the bank after the news last week that the UK competition authority has launched an investigation into the personal current account and small business retail banking sectors.