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Lloyds Banking ( (GB:LLOY) ) just unveiled an announcement.
Lloyds Banking Group PLC announced the purchase of 3,293,126 of its ordinary shares as part of its ongoing share buyback program. The shares were bought at a volume-weighted average price of 83.5104 pence per share, and the company plans to cancel these shares, which could potentially enhance shareholder value by reducing the number of shares outstanding.
The most recent analyst rating on (GB:LLOY) stock is a Hold with a £0.56 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 stock is supported by strong technical indicators and a positive earnings call, which highlight robust financial performance and strategic initiatives. However, financial performance challenges, such as declining net profit margins and increased leverage, weigh on the overall score. The valuation is fair, providing a balanced risk-reward profile for investors.
To see Spark’s full report on GB:LLOY stock, click here.
More about Lloyds Banking
Lloyds Banking Group PLC is a prominent financial services company operating in the banking industry. It offers a range of financial products and services, including personal and commercial banking, insurance, and investment services, primarily focusing on the UK market.
Average Trading Volume: 136,048,153
Technical Sentiment Signal: Buy
Current Market Cap: £49.52B
See more data about LLOY stock on TipRanks’ Stock Analysis page.