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The latest update is out from Lloyds Banking ( (GB:LLOY) ).
Lloyds Banking Group plc has announced the purchase of 3,292,493 of its own ordinary shares as part of its ongoing share buyback program. The shares, acquired from Morgan Stanley & Co. International plc, were bought at a volume-weighted average price of 83.5333 pence each and will be cancelled, reflecting the company’s commitment to returning value to shareholders.
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 institution in the banking industry, offering a wide range of financial services including personal and commercial banking, insurance, and wealth management. The company primarily focuses on the UK market, serving millions of customers with its comprehensive suite of financial products.
Average Trading Volume: 147,497,957
Technical Sentiment Signal: Buy
Current Market Cap: £49.24B
See more insights into LLOY stock on TipRanks’ Stock Analysis page.