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Lloyds Banking ( (GB:LLOY) ) has shared an update.
Lloyds Banking Group PLC announced the purchase of over 12 million of its ordinary shares as part of its ongoing share buyback program. This move, executed through Morgan Stanley & Co. International plc, is part of the company’s strategy to manage its capital structure and return value to shareholders by cancelling the repurchased shares.
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’s overall score reflects strong earnings call performance and effective corporate strategies like share buybacks. Despite challenges in financial metrics, the positive technical indicators and solid valuation support a stable 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 company in the UK, primarily offering a wide range of banking and financial products and services. The company focuses on retail and commercial banking, serving millions of customers with a strong presence in the UK market.
Average Trading Volume: 124,448,594
Technical Sentiment Signal: Buy
Current Market Cap: £46.75B
For an in-depth examination of LLOY stock, go to TipRanks’ Overview page.