TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Lloyds Banking ( (GB:LLOY) ) has shared an announcement.
Lloyds Banking Group PLC announced the purchase of 10,643,698 of its ordinary shares as part of its ongoing share buyback program. The shares were acquired at prices ranging from 88.7600 to 90.6400 pence per share, with a volume-weighted average price of 89.9567 pence. This transaction, executed through Morgan Stanley & Co. International plc, is part of the company’s strategy to enhance shareholder value by reducing the number of outstanding shares. The purchased shares are intended to be canceled, which could positively impact the company’s earnings per share and return on equity, thereby potentially benefiting shareholders.
The most recent analyst rating on (GB:LLOY) stock is a Buy with a £110.00 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 major financial services group in the UK, providing a wide range of banking and financial services focused on personal and commercial customers. The company operates primarily in the UK market, offering services such as retail banking, commercial banking, and insurance.
Average Trading Volume: 152,258,638
Technical Sentiment Signal: Buy
Current Market Cap: £51.41B
For detailed information about LLOY stock, go to TipRanks’ Stock Analysis page.