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Lloyds Banking ( (GB:LLOY) ) has issued an update.
Lloyds Banking Group PLC has announced the purchase of 3,395,106 of its ordinary shares as part of its ongoing share buyback program. The shares, bought from Morgan Stanley & Co. International plc, were acquired at a volume-weighted average price of 81.7834 pence per share. This move is part of Lloyds’ strategy to enhance shareholder value, with the company intending to cancel the repurchased shares, potentially impacting its share capital and market positioning.
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 overall stock score reflects a balance of strong technical indicators and positive corporate actions, such as share buybacks and insider purchases, which enhance shareholder value. However, financial performance challenges, including declining net profit margins and cash flow issues, weigh on the score. The positive outlook from the earnings call and fair valuation further support the stock’s potential.
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, offering a wide range of banking and financial services, primarily focused on retail and commercial banking. The company operates through a number of well-known brands, including Lloyds Bank, Halifax, and Bank of Scotland, serving millions of customers across the country.
Average Trading Volume: 135,055,329
Technical Sentiment Signal: Buy
Current Market Cap: £48.28B
Learn more about LLOY stock on TipRanks’ Stock Analysis page.