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An update from Lloyds Banking ( (GB:LLOY) ) is now available.
Lloyds Banking Group PLC announced the purchase of 3,396,271 of its ordinary shares as part of its ongoing share buyback programme. The shares were bought from Morgan Stanley & Co. International plc, with the highest price per share being 81.6000 pence and the lowest at 80.4600 pence. This move is part of the company’s strategy to enhance shareholder value by reducing the number of shares in circulation, which can potentially increase earnings per share and improve market perception.
The most recent analyst rating on (GB:LLOY) stock is a Hold with a £0.98 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 major financial services group in the United Kingdom, providing a wide range of banking and financial services primarily focused on personal and commercial customers. The company operates through a number of well-known brands, including Lloyds Bank, Halifax, and Bank of Scotland, and is a significant player in the UK banking sector.
Average Trading Volume: 132,122,402
Technical Sentiment Signal: Buy
Current Market Cap: £47.04B
See more insights into LLOY stock on TipRanks’ Stock Analysis page.