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Lloyds Banking ( (GB:LLOY) ) has issued an announcement.
Lloyds Banking Group PLC announced the purchase of 3,328,248 of its ordinary shares as part of its ongoing share buyback programme. This transaction, executed through Morgan Stanley & Co. International plc, reflects the company’s strategic decision to cancel these shares, potentially impacting its share capital structure and shareholder value.
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 operates in the financial services industry, primarily offering banking and financial products to its customers. The company focuses on providing a range of services including retail and commercial banking, insurance, and wealth management, primarily in the UK market.
Average Trading Volume: 140,090,393
Technical Sentiment Signal: Buy
Current Market Cap: £48.69B
For detailed information about LLOY stock, go to TipRanks’ Stock Analysis page.