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Lloyds Banking ( (GB:LLOY) ) just unveiled an update.
Lloyds Banking Group PLC announced the purchase of 3,314,480 of its ordinary shares as part of its ongoing share buyback program. The shares were bought from Morgan Stanley & Co. International plc at prices ranging from 82.6000 to 83.3000 pence per share, with a volume-weighted average price of 82.9781 pence. This move is part of the company’s strategy to enhance shareholder value by reducing the number of shares in circulation, which can potentially increase earnings per share and improve market perception.
The most recent analyst rating on (GB:LLOY) stock is a Hold with a £0.56 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 overall stock score is driven by strong technical indicators and a positive earnings call outlook, despite financial performance challenges. The valuation is reasonable, and the dividend yield is attractive. The share buyback program further supports shareholder value.
To see Spark’s full report on GB:LLOY stock, click here.
More about Lloyds Banking
Lloyds Banking Group PLC is a major financial services group in the UK, providing a wide range of banking and financial services, primarily focused on retail and commercial customers. The company operates through various brands, including Lloyds Bank, Halifax, and Bank of Scotland, and is a significant player in the UK banking sector.
Average Trading Volume: 136,197,613
Technical Sentiment Signal: Buy
Current Market Cap: £49.17B
See more data about LLOY stock on TipRanks’ Stock Analysis page.