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Lloyds Banking ( (GB:LLOY) ) has provided an announcement.
Lloyds Banking Group PLC announced the purchase of 48,859,808 of its ordinary shares as part of its ongoing share buyback program. These shares were bought from Morgan Stanley & Co. International plc at prices ranging from 78.0400 to 80.3000 pence per share, with a volume-weighted average price of 78.6465 pence. The company intends to cancel these shares, which is expected to impact its share capital structure and potentially enhance shareholder value by reducing the number of shares outstanding.
The most recent analyst rating on (GB:LLOY) stock is a Buy with a £0.99 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 stock score is driven by strong technical indicators and a fair valuation, despite financial performance challenges. The stock’s bullish momentum and reasonable dividend yield are positive factors, but the company’s declining profitability and cash flow issues need attention to ensure long-term stability.
To see Spark’s full report on GB:LLOY stock, click here.
More about Lloyds Banking
Lloyds Banking Group PLC operates in the financial services industry, primarily offering banking and financial services. The company focuses on providing a wide range of banking products and services to individual and business customers, with a significant presence in the UK market.
Average Trading Volume: 131,313,553
Technical Sentiment Signal: Buy
Current Market Cap: £47.26B
See more data about LLOY stock on TipRanks’ Stock Analysis page.