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Lloyds Banking ( (GB:LLOY) ) has issued an announcement.
Lloyds Banking Group PLC has announced the purchase of 10,403,823 of its ordinary shares as part of its ongoing share buyback program. These shares were acquired from Morgan Stanley & Co. International plc at prices ranging from 90.6200 to 91.9400 pence per share, with a volume-weighted average price of 91.1524 pence. The company plans to cancel the repurchased shares, which is a strategic move to enhance shareholder value by reducing the number of shares outstanding.
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 major financial services organization in the United Kingdom, primarily offering a range of banking and financial services including personal and commercial banking, insurance, and investment services. The company focuses on serving the UK market with a strong emphasis on retail and commercial financial services.
Average Trading Volume: 150,965,640
Technical Sentiment Signal: Buy
Current Market Cap: £53.9B
See more insights into LLOY stock on TipRanks’ Stock Analysis page.