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Lloyds Banking ( (GB:LLOY) ) has provided an announcement.
Lloyds Banking Group PLC announced the purchase of 41,591,430 of its ordinary shares as part of its ongoing share buyback programme, with the intention to cancel these shares. This move is part of a larger initiative to repurchase up to £1.7 billion of ordinary shares, reflecting the company’s strategic focus on enhancing shareholder value and optimizing its capital structure.
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 Group’s stock is supported by strong technical indicators, positive earnings call sentiment, and strategic corporate actions like share buybacks. However, financial performance concerns related to cash flow and leverage slightly temper the overall score.
To see Spark’s full report on GB:LLOY stock, click here.
More about Lloyds Banking
Lloyds Banking Group PLC is a prominent financial services company in the banking industry, primarily offering a range of banking and financial products and services. The company focuses on providing comprehensive financial solutions to individuals and businesses, maintaining a significant presence in the UK market.
Average Trading Volume: 124,616,445
Technical Sentiment Signal: Buy
Current Market Cap: £47.32B
See more data about LLOY stock on TipRanks’ Stock Analysis page.