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Lloyds Banking ( (GB:LLOY) ) has issued an update.
Lloyds Banking Group PLC announced the purchase of 4,298,976 of its ordinary shares as part of its ongoing share buyback program. The shares were bought from Morgan Stanley & Co. International plc at prices ranging from 89.9200 to 92.0000 pence, with a volume-weighted average price of 91.0916 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 strengthen its market position.
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, primarily focused on retail and commercial customers. The company operates under several well-known brands, including Lloyds Bank, Halifax, and Bank of Scotland, and is a significant player in the UK banking industry.
Average Trading Volume: 149,723,637
Technical Sentiment Signal: Buy
Current Market Cap: £53.34B
See more insights into LLOY stock on TipRanks’ Stock Analysis page.