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Lloyds Banking ( (GB:LLOY) ) has shared an update.
Lloyds Banking Group PLC announced the purchase of 6,018,311 of its ordinary shares as part of its ongoing share buyback program. The shares, acquired from Morgan Stanley & Co. International plc, were bought at a volume-weighted average price of 76.6188 pence per share and are intended to be canceled, which may impact the company’s share value and benefit shareholders by potentially increasing earnings per share.
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.
Lloyds Banking Group’s overall stock score is driven by solid technical indicators and a positive earnings call which project a promising outlook. The company’s valuation is attractive with a compelling dividend yield. However, challenges in financial performance, particularly in profitability and cash flow, slightly offset these positives.
To see Spark’s full report on GB:LLOY stock, click here.
More about Lloyds Banking
Lloyds Banking Group PLC is a prominent financial institution in the banking industry, offering a wide range of financial services and products. The company focuses on retail and commercial banking, serving a diverse customer base in the UK and internationally.
Average Trading Volume: 142,364,982
Technical Sentiment Signal: Buy
Current Market Cap: £45.54B
Find detailed analytics on LLOY stock on TipRanks’ Stock Analysis page.