Lloyds Banking Group Advances Share Buyback Program

Lloyds Banking ( (GB:LLOY) ) has issued an announcement.

Lloyds Banking Group PLC announced the purchase of 9,891,503 of its ordinary shares as part of its ongoing share buyback program. The shares were acquired from Morgan Stanley & Co. International plc at a volume-weighted average price of 76.1446 pence per share, with the intention to cancel them. This move is part of Lloyds’ strategy to manage its capital structure and return value to shareholders, potentially impacting its market positioning and shareholder value.

The most recent analyst rating on (GB:LLOY) stock is a Hold with a £0.60 price target. To see the full list of analyst forecasts on Lloyds Banking stock, see the GB:LLOY Stock Forecast page.

Spark’s Take on GB:LLOY Stock

According to Spark, TipRanks’ AI Analyst, GB:LLOY is a Outperform.

The overall stock score of 75.3 reflects a balanced view of Lloyds Banking Group. The positive technical analysis and strategic corporate actions enhance investor confidence. However, financial performance challenges, particularly in profitability and cash flow, weigh on the score. The company’s fair valuation and positive earnings call outlook provide a supportive backdrop.

To see Spark’s full report on GB:LLOY stock, click here.

More about Lloyds Banking

Lloyds Banking Group PLC operates in the financial services industry, primarily offering banking and financial services to individuals and businesses. The company focuses on providing a wide range of financial products and services, including retail and commercial banking, insurance, and wealth management.

Average Trading Volume: 153,973,232

Technical Sentiment Signal: Buy

Current Market Cap: £45.65B

Find detailed analytics on LLOY stock on TipRanks’ Stock Analysis page.