Lloyds Banking Group Cancels 38.5 Million Shares in Ongoing Buyback

Lloyds Banking ( (GB:LLOY) ) has provided an update.

Lloyds Banking Group has repurchased 38,484,166 of its ordinary shares as part of its ongoing share buyback programme, with prices ranging between 95.4600p and 98.5000p and a volume-weighted average price of 96.3488p. The bank intends to cancel all of the shares bought back, a move that is expected to reduce the overall share count and potentially enhance earnings per share for remaining investors under the existing capital return strategy.

The most recent analyst rating on (GB:LLOY) stock is a Buy with a £112.00 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 Neutral.

The score is driven primarily by a strong, upgrade-supported earnings outlook and capital return plan from the latest call. This is tempered by weaker underlying financial quality signals (higher leverage and negative free cash flow in the last two years). Technically the trend is positive, but overbought indicators add near-term risk, while valuation and yield are supportive but not standout.

To see Spark’s full report on GB:LLOY stock, click here.

More about Lloyds Banking

Lloyds Banking Group is a major U.K.-based financial services provider, offering retail and commercial banking, insurance and wealth management solutions to individuals and businesses. The group operates primarily in the U.K. market, where it holds significant market share in current accounts, mortgages and small business lending, positioning it as a key player in the British banking sector.

Average Trading Volume: 182,248,595

Technical Sentiment Signal: Buy

Current Market Cap: £58.86B

Learn more about LLOY stock on TipRanks’ Stock Analysis page.