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Lloyds Banking ( (GB:LLOY) ) just unveiled an update.
Lloyds Banking Group PLC has announced the purchase of over 50 million of its ordinary shares as part of an ongoing share buyback program. This move, which involves canceling the repurchased shares, is part of a larger strategy to repurchase up to £1.7 billion worth of shares, reflecting the company’s commitment to returning value to shareholders and optimizing its capital structure.
The most recent analyst rating on (GB:LLOY) stock is a Buy with a £0.99 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’s overall stock score is driven by strong technical indicators and a fair valuation, despite financial performance challenges. The stock’s bullish momentum and reasonable dividend yield are positive factors, but the company’s declining profitability and cash flow issues need attention to ensure long-term stability.
To see Spark’s full report on GB:LLOY stock, click here.
More about Lloyds Banking
Lloyds Banking Group PLC is a leading financial services group in the UK, primarily offering a wide range of banking and financial services to individual and corporate clients. The company focuses on retail and commercial banking, and insurance services, maintaining a significant presence in the UK market.
Average Trading Volume: 131,665,906
Technical Sentiment Signal: Buy
Current Market Cap: £48.97B
See more data about LLOY stock on TipRanks’ Stock Analysis page.