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Lloyds Banking ( (GB:LLOY) ) just unveiled an announcement.
Lloyds Banking Group PLC announced the purchase of 9,995,770 of its ordinary shares as part of its ongoing share buyback program. The shares were acquired from Morgan Stanley & Co. International plc, with the highest price paid per share being 95.6800 pence and the lowest at 94.2000 pence. This move is part of the company’s strategy to manage its capital structure and return value to shareholders, with the intention to cancel the purchased shares, potentially impacting the company’s stock value and shareholder equity.
The most recent analyst rating on (GB:LLOY) stock is a Buy with a £108.00 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 earnings call performance and positive technical analysis, indicating bullish momentum. Financial performance shows stability but highlights areas needing improvement, such as cash flow and leverage. Valuation is fair, with a reasonable P/E ratio and dividend yield. The positive sentiment from the earnings call and technical indicators are the most significant factors influencing the score.
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 United Kingdom, primarily offering a wide range of banking and financial products and services. The company focuses on retail and commercial banking, insurance, and wealth management, serving millions of customers with a strong presence in the UK market.
Average Trading Volume: 149,595,113
Technical Sentiment Signal: Buy
Current Market Cap: £56.06B
See more insights into LLOY stock on TipRanks’ Stock Analysis page.