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Lloyds Banking ( (GB:LLOY) ) has shared an update.
Lloyds Banking Group PLC announced the purchase of 33,666,953 of its ordinary shares as part of its ongoing share buyback program. The shares were acquired at prices ranging from 72.8600 to 77.5000 pence, with a volume-weighted average price of 74.0586 pence. This move is part of the company’s strategy to enhance shareholder value by reducing the number of shares in circulation, which can positively impact earnings per share and return on equity.
The most recent analyst rating on (GB:LLOY) stock is a Hold with a £0.60 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 scores well due to its solid valuation and positive technical indicators. The earnings call reflects strong financial performance and effective shareholder return strategies. However, financial performance concerns and leverage issues modestly temper the overall outlook.
To see Spark’s full report on GB:LLOY stock, click here.
More about Lloyds Banking
Lloyds Banking Group PLC is a leading financial services group based in the UK, providing a wide range of banking and financial services. The company focuses on retail and commercial financial services, serving millions of customers with products such as personal banking, insurance, and wealth management.
Average Trading Volume: 141,855,917
Technical Sentiment Signal: Buy
Current Market Cap: £45.73B
See more insights into LLOY stock on TipRanks’ Stock Analysis page.