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Lloyds Banking ( (GB:LLOY) ) has shared an announcement.
Lloyds Banking Group PLC has announced the purchase of 6,635,300 of its ordinary shares as part of its ongoing share buyback program. The shares were acquired from Morgan Stanley & Co. International plc at a volume-weighted average price of 76.5483 pence per share. The company intends to cancel these shares, which is expected to impact its share capital structure and potentially enhance shareholder value.
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 score reflects a positive outlook driven by strong technical indicators, attractive valuation, and effective strategic initiatives like share buybacks. While financial performance shows some challenges, these are mitigated by a robust earnings outlook and corporate actions aimed at enhancing shareholder value.
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 operating in the banking industry. It primarily offers a range of banking and financial products and services, focusing on retail and commercial banking, insurance, and wealth management.
Average Trading Volume: 141,551,716
Technical Sentiment Signal: Buy
Current Market Cap: £45.89B
Find detailed analytics on LLOY stock on TipRanks’ Stock Analysis page.