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Lloyds Banking ( (GB:LLOY) ) has issued an update.
Lloyds Banking Group PLC has announced the purchase of 1,654,390 of its ordinary shares from Morgan Stanley & Co. International plc as part of its ongoing share buyback program. The shares were bought at a volume-weighted average price of 76.7971 pence per share and will be canceled, reflecting the company’s strategy to return value to shareholders and manage its capital structure effectively.
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.
The overall score is driven by strong earnings call highlights and a positive impact from the share buyback program. The valuation is attractive with a solid dividend yield, although financial performance is hampered by leverage and cash flow issues. Technical indicators show moderate positive momentum.
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 in the UK, providing a wide range of banking and financial services focused on personal and commercial customers. The company operates primarily in the UK, offering products such as current accounts, savings, mortgages, and loans.
Average Trading Volume: 127,751,506
Technical Sentiment Signal: Buy
Current Market Cap: £45.73B
Learn more about LLOY stock on TipRanks’ Stock Analysis page.