Lloyds Banking Group PLC (GB:LLOY)
LSE:LLOY
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Lloyds Banking
(LSE:LLOY)
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Rating:67Neutral
Price Target:
104.00 p
▼(-1.07% Downside)
Action:Reiterated
Date:02/02/26
The score is driven primarily by a strong, upgrade-supported earnings outlook and capital return plan from the latest call. This is tempered by weaker underlying financial quality signals (higher leverage and negative free cash flow in the last two years). Technically the trend is positive, but overbought indicators add near-term risk, while valuation and yield are supportive but not standout.
Positive Factors
Deposit-funded lending growth
A large, deposit-funded loan book provides structural funding stability and supports net interest income over time. Sustained lending growth and a ~19% mortgage flow share reinforce market position and cross-sell opportunity, helping earnings resilience even as margins normalise.
Negative Factors
Rising leverage
A sharp increase in leverage materially raises balance-sheet risk and reduces financial flexibility. Higher debt-to-equity elevates sensitivity to funding and interest-rate shifts, may pressure capital ratios under stress, and requires continued capital generation to sustain returns and regulatory headroom.
Read all positive and negative factors
Positive Factors
Negative Factors
Deposit-funded lending growth
A large, deposit-funded loan book provides structural funding stability and supports net interest income over time. Sustained lending growth and a ~19% mortgage flow share reinforce market position and cross-sell opportunity, helping earnings resilience even as margins normalise.
Read all positive factors
Lloyds Banking (LLOY) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£58.06B
Dividend Yield3.41%
Average Volume (3M)148.90M
Price to Earnings (P/E)8.9
Beta (1Y)1.55
Revenue Growth-18.98%
EPS Growth23.57%
CountryUK
Employees61,228
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)0.07
Shares Outstanding58,237,720,000
10 Day Avg. Volume133,856,645
30 Day Avg. Volume148,899,935
Financial Highlights & Ratios
PEG Ratio1.21
Price to Book (P/B)1.23
Price to Sales (P/S)1.43
P/FCF Ratio-91.92
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£121.88Price Target Upside15.94% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering9
EPS Forecast (FY)0.1
Revenue Forecast (FY)£20.94B
Lloyds Banking Business Overview & Revenue Model
Company Description
Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom. It operates through three segments: Retail; Commercial Banking; and Insurance and Wealth. The Retail segment offers...
How the Company Makes Money
Lloyds Banking Group makes money primarily by earning income from lending and financial services while funding itself largely through customer deposits.
1) Net interest income (core earnings driver)
- The largest driver of banking profitability i...
Lloyds Banking Earnings Call Summary
Earnings Call Date:Jan 29, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call conveyed a clearly positive operational and financial momentum: sustained revenue growth (NII +6%, OOI +9%), strong balance sheet expansion (lending +5%, deposits +3%), sizeable cost savings (~GBP 1.9bn) and scaled digital/AI benefits, combined with upgraded 2026 targets (RoTE >16%, NII guidance ~GBP 14.9bn, capital generation >200 bps) and constructive capital returns (15% dividend increase and up to GBP 1.75bn buyback). Notable headwinds and one-off items — principally the GBP 800m motor remediation charge, elevated cost/income in 2025, mortgage margin pressure and some quarter‑to‑quarter deposit volatility — were acknowledged and quantified, but management presented actionable plans and guidance to more than offset these in 2026. Overall, positives materially outweigh the negatives.Positive Updates
Strong overall financial results
Statutory profit after tax of GBP 4.8 billion; net income GBP 18.3 billion, up 7% year-on-year; return on tangible equity 12.9% (14.8% excluding Q3 motor provision).
Negative Updates
Remediation and motor provision impact
Remediation charges for 2025 were GBP 968 million, including an GBP 800 million additional motor finance provision taken in Q3; this provision materially reduced headline RoTE (statutory RoTE 12.9% vs 14.8% excluding motor provision).
Read all updates
Q4-2025 Updates
Positive
Negative
Strong overall financial results
Statutory profit after tax of GBP 4.8 billion; net income GBP 18.3 billion, up 7% year-on-year; return on tangible equity 12.9% (14.8% excluding Q3 motor provision).
Read all positive updates
Company Guidance
Management upgraded 2026 guidance and reiterated targets: NII about £14.9bn (from £13.6bn in 2025), return on tangible equity >16% (2025: 12.9% statutory / 14.8% excl. motor), cost/income ratio <50% in 2026 (2025: 58.6% / 53.3% excl. remediation), net income 2025 £18.3bn, other operating income £6.1bn in 2025 (+9%) with other‑income contribution to upgraded strategic revenue ~£0.9bn and a 2026 strategic initiatives revenue target of c.£2bn (c.£1.4bn delivered to date), gross cost savings c.£1.9bn since 2021, operating costs £9.76bn in 2025 with guidance for <£9.9bn in 2026, capital generation >200bps in 2026 (147bps in 2025; 178bps excl. motor), CET1 13.2% at FY25 with a target of ~13% by end‑2026, proposed ordinary dividend +15% to total 3.65p and a share buyback of up to £1.75bn (total capital return up to £3.9bn), structural hedge income ~£7bn in 2026 (c.£5.5bn in 2025) rising to ~£8bn in 2027, RWAs £235.5bn (up £10.9bn) with expected Basel‑3.1 day‑1 RWA relief of c.£6–8bn on 1 Jan 2027, lending £481bn (up £22bn, +5%) including mortgages £323bn (up £10.8bn, c.19% flow share), impairment charge £795m (asset quality ratio 17bps; guidance ~25bps for 2026), TNAV 57p (up 4.6p), and material GenAI benefits scaling from c.£50m P&L in 2025 (50 use cases) to >£100m in 2026.Lloyds Banking Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
57
Neutral
Cash Flow
41
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 40.96B | 37.61B | 33.95B | 20.77B | 18.71B |
| Gross Profit | 22.64B | 18.60B | 19.20B | 16.05B | 16.32B |
| EBITDA | 6.66B | 9.40B | 10.41B | 7.18B | 9.73B |
| Net Income | 4.20B | 4.42B | 5.46B | 3.83B | 5.78B |
Balance Sheet | |||||
| Total Assets | 944.07B | 906.70B | 881.45B | 873.39B | 886.52B |
| Cash, Cash Equivalents and Short-Term Investments | 60.60B | 137.01B | 138.50B | 139.34B | 138.16B |
| Total Debt | 141.60B | 88.52B | 93.67B | 91.83B | 91.84B |
| Total Liabilities | 896.21B | 860.81B | 834.09B | 829.48B | 833.37B |
| Stockholders Equity | 47.67B | 45.72B | 47.16B | 43.67B | 52.92B |
Cash Flow | |||||
| Free Cash Flow | -639.00M | -10.02B | 1.35B | 18.16B | 3.39B |
| Operating Cash Flow | 4.43B | -4.39B | 6.81B | 22.01B | 6.62B |
| Investing Cash Flow | -10.19B | -7.69B | -9.82B | 510.00M | -2.54B |
| Financing Cash Flow | -4.09B | -5.93B | -3.50B | -6.61B | -3.23B |
Lloyds Banking Technical Analysis
Positive
105.12
Price Trends
96.31
Positive
98.11
Positive
91.48
Positive
Market Momentum
-0.32
Positive
55.13
Neutral
56.02
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:LLOY, the sentiment is Positive. The current price of 105.12 is above the 20-day moving average (MA) of 97.44, above the 50-day MA of 96.31, and above the 200-day MA of 91.48, indicating a bullish trend. The MACD of -0.32 indicates Positive momentum. The RSI at 55.13 is Neutral, neither overbought nor oversold. The STOCH value of 56.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:LLOY.
Lloyds Banking Risk Analysis
Lloyds Banking disclosed 33 risk factors in its most recent earnings report. Lloyds Banking reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Lloyds Banking Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | £1.71B | 4.00 | 13.26% | 5.34% | -8.38% | -2.55% | |
70 Outperform | £59.78B | 6.14 | 9.46% | 1.50% | 7.44% | 15.64% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | £58.06B | 8.87 | 10.75% | 3.41% | -18.98% | 23.57% | |
66 Neutral | £1.37B | 0.87 | 11.68% | ― | 24.32% | 122.52% | |
60 Neutral | £46.43B | 7.35 | 14.55% | 3.85% | 2.05% | 20.10% | |
58 Neutral | £1.00B | 5.16 | 5.16% | ― | -10.71% | 23.10% |
* Financial Sector Average
GB:LLOY
Lloyds Banking
99.86
24.92
33.25%
GB:BARC
Barclays
440.60
119.05
37.02%
GB:MTRO
Metro Bank
149.20
31.60
26.87%
GB:NBS
Nationwide Building Society
12,950.00
-200.00
-1.52%
GB:OSB
OSB Group PLC
495.00
46.79
10.44%
GB:NWG
NatWest Group
583.00
93.21
19.03%
Lloyds Banking Corporate Events
Business Operations and StrategyStock Buyback
Lloyds Banking Group Cancels 6.9 Million Shares in Ongoing Buyback
Positive
May 20, 2026
Lloyds Banking Group has repurchased 6,925,854 of its ordinary shares on 20 May 2026 as part of its ongoing share buyback programme, paying a volume-weighted average price of 97.0080 pence per share within a trading range of 96.18 to 98 pence. The...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Lloyds Banking Group Buys Back and Cancels 10 Million Shares
Positive
May 19, 2026
Lloyds Banking Group has repurchased 10 million of its ordinary shares on 19 May 2026 as part of its ongoing share buyback programme, with prices ranging between 96.06p and 96.84p and a volume-weighted average price of 96.4346p. The bank plans to ...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Cancels 15.7 Million Shares in Ongoing Buyback
Positive
May 18, 2026
Lloyds Banking Group has repurchased 15,675,080 of its ordinary shares on 18 May 2026 as part of its ongoing share buyback programme, paying a volume-weighted average price of 94.8085 pence per share within a range of 93.6400 to 95.7200 pence. The...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Cancels 30 Million Shares in Ongoing Buyback
Positive
May 15, 2026
Lloyds Banking Group has repurchased 30 million of its ordinary shares on 15 May 2026 as part of its ongoing share buyback programme, paying a volume-weighted average price of 94.0888 pence per share within a trading range of 93.3 to 95 pence. The...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Buys Back and Cancels 8 Million Shares
Positive
May 14, 2026
Lloyds Banking Group has executed a further tranche of its ongoing share buyback programme, repurchasing 8,000,000 ordinary shares on 14 May 2026 through Goldman Sachs International. The shares were acquired at a volume‑weighted average pric...
Business Operations and StrategyExecutive/Board ChangesStock BuybackDividendsShareholder Meetings
Lloyds Banking Group Wins Strong Investor Backing at AGM
Positive
May 14, 2026
Lloyds Banking Group shareholders approved all 26 resolutions at the bank’s annual general meeting in Edinburgh, with each motion passed by the required majority on a poll. Investors backed the re-election of the entire existing board, the e...
Business Operations and StrategyDelistings and Listing ChangesPrivate Placements and Financing
Lloyds Banking Group Lists €750 Million Callable Notes on London Stock Exchange
Positive
May 14, 2026
Lloyds Banking Group has admitted €750 million of 3.625% Fixed Rate Reset Callable Notes due 2033 to trading on the London Stock Exchange’s Main Market. The notes, issued under its euro medium-term note programme, expand the bank’...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Cancels 11.85 Million Shares in Ongoing Buyback
Positive
May 13, 2026
Lloyds Banking Group has repurchased 11,850,000 of its ordinary shares on 13 May 2026 as part of its ongoing share buyback programme, paying a volume-weighted average price of 94.4524 pence with prices ranging between 93.26 and 95.4 pence. The ban...
Regulatory Filings and Compliance
Lloyds Banking Group Discloses Routine Executive Share Awards Under Incentive Plan
Neutral
May 13, 2026
Lloyds Banking Group has reported routine share transactions by several senior executives under its Share Incentive Plan, including the CEOs of Insurance, Pensions Investments and Consumer Relationships, the Chief Risk Officer, Chief People and P...
Stock BuybackRegulatory Filings and Compliance
Lloyds Banking Group Cancels 32.3 Million Shares in Ongoing Buyback
Positive
May 12, 2026
Lloyds Banking Group has repurchased 32,331,351 of its ordinary shares on 12 May 2026 as part of its ongoing share buyback programme, with prices ranging between 93.92 pence and 95.30 pence and a volume-weighted average price of 94.5432 pence. The...
Private Placements and FinancingRegulatory Filings and Compliance
Lloyds Banking Group Sets Final Terms for €750m Callable Note Issue
Neutral
May 12, 2026
Lloyds Banking Group has published the final terms for a new EUR 750 million 3.625% Fixed Rate Reset Callable Note maturing in 2033, issued under its £25 billion Euro Medium Term Note programme. The documentation, which has been filed with th...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Buys Back and Cancels Over 16.6 Million Shares
Positive
May 11, 2026
Lloyds Banking Group has repurchased 16,635,214 of its ordinary shares on 11 May 2026 as part of its ongoing share buyback programme, paying a volume-weighted average price of 98.7780 pence per share. The highest price paid was 100.0500 pence and ...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Lloyds Seeks Investor Consent to Align AT1 Subordination and Boost Tier 2 Capital
Positive
May 11, 2026
Lloyds Banking Group has called a meeting of holders of its £750 million Additional Tier 1 perpetual subordinated contingent convertible securities callable in 2029 to seek consent for amendments aligning their subordination terms with those ...
Private Placements and FinancingRegulatory Filings and Compliance
Lloyds Seeks Investor Approval to Amend AT1 Bond Terms Amid Regulatory Changes
Neutral
May 11, 2026
Lloyds Banking Group has called a meeting of holders of its £750,009,000 Fixed Rate Reset Additional Tier 1 Perpetual Subordinated Contingent Convertible Securities callable in 2029 to vote on an extraordinary resolution amending the terms an...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Lloyds Banking Group Cancels 20 Million Shares in Ongoing Buyback
Positive
May 8, 2026
Lloyds Banking Group has repurchased 20,010,388 of its ordinary shares on 8 May 2026 as part of its ongoing share buyback programme, with prices ranging between 97.5 pence and 100.08 pence and a volume-weighted average price of 99.3486 pence. The ...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Cancels 20 Million Shares in Ongoing Buyback
Positive
May 7, 2026
Lloyds Banking Group has repurchased 20 million of its ordinary shares on 7 May 2026 as part of its ongoing share buyback programme, with prices ranging between 98.26 pence and 99.45 pence and a volume-weighted average price of 98.8997 pence. The ...
Business Operations and StrategyStock Buyback
Lloyds Banking Buys Back and Cancels 20 Million Shares
Positive
May 6, 2026
Lloyds Banking Group has repurchased 20 million of its ordinary shares on 6 May 2026 as part of its existing share buyback programme, at prices ranging between 97.96p and 100p, with a volume‑weighted average price of 99.2954p. The bank inten...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Cancels 33.7 Million Shares in Ongoing Buyback
Positive
May 5, 2026
Lloyds Banking Group has repurchased 33,697,932 of its ordinary shares on 5 May 2026 as part of its existing share buyback programme, with prices ranging between 93.50p and 96.36p and a volume-weighted average price of 94.7636p. The bank plans to ...
Regulatory Filings and Compliance
Lloyds Banking Executive Sells Shares but Remains in Line With Ownership Policy
Neutral
May 5, 2026
Lloyds Banking Group disclosed that Chirantan Barua, CEO of Insurance, Pensions Investments and a person discharging managerial responsibilities, sold 512,681 ordinary shares in the group on 30 April 2026 at 97.108 pence per share on the London S...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Lloyds Banking Group Cancels 19.5 Million Shares in Latest Buyback Tranche
Positive
May 1, 2026
Lloyds Banking Group has repurchased 19.5 million of its ordinary shares on 1 May 2026 as part of its ongoing share buyback programme, with prices ranging between 97.71p and 99.26p and a volume-weighted average price of 98.363p. The bank plans to ...
Private Placements and FinancingRegulatory Filings and Compliance
Lloyds Banking Group Issues 20.5 Million Shares to Satisfy Share Plan Awards
Neutral
May 1, 2026
Lloyds Banking Group has issued 20,518,682 ordinary shares of 10p each between 4 March and 30 April 2026 to satisfy awards under its various share plans. The new shares have been admitted to trading on the London Stock Exchange’s Main Market...
Business Operations and StrategyStock Buyback
Lloyds Deepens Capital Return With Ongoing £1.75bn Share Buyback
Positive
Apr 30, 2026
Lloyds Banking Group has continued executing its share buyback programme, purchasing 22,287,497 ordinary shares on 30 April 2026 at a volume-weighted average price of 98.1324 pence and intends to cancel these shares, thereby reducing its share cou...
Regulatory Filings and Compliance
Lloyds Banking Group Updates Voting Share Capital and Disclosure Denominator
Neutral
Apr 30, 2026
Lloyds Banking Group has disclosed that, as of 30 April 2026, it has 58,497,706,369 ordinary shares of 10 pence each in issue with full voting rights, including those represented by American Depositary Receipts. The bank confirmed that no shares a...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Lloyds Banking Group Updates EMTN Programme with FCA-Approved Supplementary Prospectus
Positive
Apr 30, 2026
Lloyds Banking Group has published a new supplementary prospectus for its £25 billion Euro Medium Term Note programme and for the separate £35 billion EMTN programme of Lloyds Bank. The document, approved by the Financial Conduct Authori...
Business Operations and StrategyDelistings and Listing Changes
Lloyds Banking Group to Redeem $500 Million AT1 Contingent Convertible Notes
Neutral
Apr 30, 2026
Lloyds Banking Group has announced it will redeem the entire $500 million outstanding principal of its 6.75% Callable Fixed Rate Reset Additional Tier 1 Perpetual Subordinated Contingent Convertible Securities. The notes will be redeemed at par pl...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Cancels 31 Million Shares in Latest Buyback Tranche
Positive
Apr 29, 2026
Lloyds Banking Group has repurchased 31,145,279 of its ordinary shares on 29 April 2026 as part of its ongoing share buyback programme, with prices ranging between 96.32p and 97.98p and a volume-weighted average price of 97.166p. The shares, bough...
Business Operations and StrategyFinancial Disclosures
Lloyds Banking Group posts strong Q1 and reiterates 2026 guidance
Positive
Apr 29, 2026
Lloyds Banking Group is a leading UK-focused retail and commercial bank, offering services across personal banking, mortgages, business lending, wealth and insurance. The group operates through well-known brands to support UK households and busine...
Stock BuybackRegulatory Filings and Compliance
Lloyds Banking Group Cancels 12.1 Million Shares in Ongoing Buyback
Positive
Apr 28, 2026
Lloyds Banking Group has repurchased 12,135,869 of its ordinary shares on 28 April 2026 as part of its ongoing share buyback programme, with prices ranging between 96.71p and 98.67p and a volume-weighted average price of 97.7943p. The shares, boug...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Buys Back and Cancels Nearly 10.9 Million Shares
Positive
Apr 27, 2026
Lloyds Banking Group has repurchased 10,892,661 of its ordinary shares on 27 April 2026 as part of its ongoing share buyback programme conducted through Goldman Sachs International. The shares were bought at prices between 97.34p and 98.54p, with ...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Cancels 12.2 Million Shares in Ongoing Buyback
Positive
Apr 24, 2026
Lloyds Banking Group has repurchased 12,170,976 of its ordinary shares on 24 April 2026 as part of its ongoing share buyback programme, at prices ranging between 96.98 pence and 98.62 pence, with a volume-weighted average price of 97.6987 pence. T...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Buys Back and Cancels 7.5 Million Shares
Positive
Apr 23, 2026
Lloyds Banking Group has repurchased 7,542,332 of its ordinary shares on 23 April 2026 as part of its ongoing share buyback programme, at a volume-weighted average price of 98.8528 pence. The shares, bought through Goldman Sachs International, fal...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Cancels 5 Million Shares in Ongoing Buyback
Positive
Apr 22, 2026
Lloyds Banking Group has repurchased 5,000,000 of its ordinary shares on 22 April 2026 as part of its existing share buyback programme, using Goldman Sachs International as broker at a volume-weighted average price of 100.5037 pence per share. The...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Buys Back and Cancels 5 Million Shares
Positive
Apr 21, 2026
Lloyds Banking Group has repurchased 5,000,000 of its ordinary shares on 21 April 2026 as part of its existing share buyback programme, with prices ranging between 100.72p and 102.94p and a volume-weighted average price of 101.977p. The bank plans...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Buys Back and Cancels 1 Million Shares
Positive
Apr 20, 2026
Lloyds Banking Group has repurchased 1,000,000 of its ordinary shares on 20 April 2026 as part of its ongoing share buyback programme, at prices ranging between 102.4200p and 103.7400p, with a volume-weighted average price of 103.0323p. The bank p...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Lloyds Banking Group Buys Back and Cancels 1 Million Shares
Positive
Apr 17, 2026
Lloyds Banking Group has repurchased 1,000,000 of its ordinary shares on 17 April 2026 as part of its ongoing share buyback programme, with prices ranging between 101.8p and 105p and a volume-weighted average price of 103.6279p. The shares, acquir...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Buys Back and Cancels 1 Million Shares
Positive
Apr 16, 2026
Lloyds Banking Group has repurchased 1,000,000 of its ordinary shares on 16 April 2026 as part of its ongoing share buyback programme, with prices ranging between 103.12 pence and 105 pence and a volume-weighted average price of 103.9131 pence. Th...
Delistings and Listing ChangesPrivate Placements and Financing
Lloyds Banking Group Lists £500m Tier 2 Subordinated Notes on LSE
Positive
Apr 16, 2026
Lloyds Banking Group has admitted £500 million of 5.625% Fixed Rate Reset Dated Subordinated Tier 2 Notes due 2036 to trading on the London Stock Exchange’s Main Market. The notes, issued under the group’s euro medium-term note pr...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Buys Back and Cancels 1 Million Shares
Positive
Apr 15, 2026
Lloyds Banking Group has repurchased 1,000,000 of its ordinary shares on 15 April 2026 as part of its ongoing share buyback programme, paying a volume-weighted average price of 103.2076 pence per share. The transaction, executed through Goldman Sa...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Cancels 1 Million Shares in Ongoing Buyback
Positive
Apr 14, 2026
Lloyds Banking Group has executed a further tranche of its existing share buyback programme, repurchasing 1,000,000 ordinary shares on 14 April 2026 through Goldman Sachs International. The shares were bought at prices ranging between 100.58 pence...
Private Placements and FinancingRegulatory Filings and Compliance
Lloyds Banking Group Issues £500m Tier 2 Bond Under EMTN Programme
Positive
Apr 14, 2026
Lloyds Banking Group has published the final terms for a £500 million 5.625% Fixed Rate Reset Dated Subordinated Tier 2 bond maturing in 2036, issued under its £25 billion Euro Medium Term Note programme. The notes, aimed at eligible cou...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Lloyds Banking Group Buys Back and Cancels 1 Million Shares
Positive
Apr 13, 2026
Lloyds Banking Group has repurchased 1,000,000 of its ordinary shares on 13 April 2026 as part of its ongoing share buyback programme, with prices ranging between 99.1600p and 100.4200p and a volume-weighted average price of 99.8734p. The bank pla...
Executive/Board ChangesRegulatory Filings and Compliance
Lloyds Banking Group Discloses Routine Executive Share Awards Under Incentive Plan
Neutral
Apr 13, 2026
Lloyds Banking Group has reported routine share transactions by several senior executives under its Share Incentive Plan, detailing monthly acquisitions of partnership shares and corresponding matching shares awarded on 9 April 2026. The disclosur...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Repurchases 1 Million Shares for Cancellation
Positive
Apr 10, 2026
Lloyds Banking Group has repurchased 1,000,000 of its ordinary shares on 10 April 2026 as part of its ongoing share buyback programme, with prices ranging between 100.72p and 101.66p and a volume-weighted average price of 101.2526p. The bank plans...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Cancels 1 Million Shares in Ongoing Buyback
Positive
Apr 9, 2026
Lloyds Banking Group has repurchased 1,000,000 of its ordinary shares on 9 April 2026 as part of its ongoing share buyback programme, at prices ranging between 99.59 pence and 100.52 pence, with a volume-weighted average price of just under 100 pe...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Cancels Over 13 Million Shares in Ongoing Buyback
Positive
Apr 7, 2026
Lloyds Banking Group has repurchased 13,238,247 of its ordinary shares as part of its ongoing share buyback programme, executing the trades on 7 April 2026 through Goldman Sachs International. The shares, bought at prices ranging between 95.86 pen...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Buys Back and Cancels 9.5 Million Shares
Positive
Apr 2, 2026
Lloyds Banking Group has continued its existing share buyback programme, repurchasing 9,499,296 ordinary shares on 2 April 2026 through Goldman Sachs International as broker. The shares were bought at prices ranging between 95.48 pence and 97.46 p...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Lloyds Holds Motor Finance Redress Provision Steady After FCA Rules
Negative
Apr 2, 2026
Lloyds Banking Group has assessed the Financial Conduct Authority’s final rules for the industry-wide motor finance redress scheme and currently sees no need to change its existing provision for potential compensation. The bank, however, hig...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Buys Back and Cancels 8.5 Million Shares
Positive
Apr 1, 2026
Lloyds Banking Group has repurchased 8,518,373 of its ordinary shares on 1 April 2026 through Goldman Sachs International as part of its ongoing share buyback programme. The shares were bought at prices ranging between 95.72p and 96.88p, with a vo...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Advances £1.75bn Share Buyback With Latest Share Repurchase
Positive
Mar 31, 2026
Lloyds Banking Group has continued its ongoing share buyback programme with the repurchase of 24,683,770 ordinary shares on 31 March 2026, executed through Goldman Sachs International at a volume-weighted average price of 92.5327 pence. The bank i...
Regulatory Filings and Compliance
Lloyds Banking Group Updates Share Capital and Voting Rights for Regulatory Disclosures
Neutral
Mar 31, 2026
Lloyds Banking Group has confirmed that, as of 31 March 2026, it has 58,626,223,143 ordinary shares of 10 pence each in issue carrying voting rights, including those represented by American Depositary Receipts, and that no shares are held in treas...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Buys Back and Cancels 22.8 Million Shares
Positive
Mar 31, 2026
Lloyds Banking Group has continued executing its share buyback strategy, purchasing 22,768,075 ordinary shares on 30 March 2026 through Goldman Sachs International as broker. The shares were acquired at prices between 89.64p and 91.86p, with a vol...
Business Operations and StrategyRegulatory Filings and Compliance
Lloyds Reviews FCA’s Final Motor Finance Redress Rules
Negative
Mar 31, 2026
Lloyds Banking Group has acknowledged the Financial Conduct Authority’s publication of final rules for an industry-wide redress scheme covering motor finance. The bank says the framework differs from proposals outlined in October 2025 and em...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Cancels 22.2 Million Shares in Ongoing Buyback
Positive
Mar 27, 2026
Lloyds Banking Group has bought 22.2 million of its own ordinary shares on 27 March 2026 as part of its ongoing share buyback programme instructed earlier in the year. The purchases, executed by Goldman Sachs International at a volume-weighted ave...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Cancels 22 Million Shares in Ongoing Buyback
Positive
Mar 26, 2026
Lloyds Banking Group has repurchased 22 million of its ordinary shares on 26 March 2026 as part of its ongoing share buyback programme, with prices ranging between 92.5p and 94.08p and a volume-weighted average price of 93.1576p. The bank intends ...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Cancels 15.3 Million Shares in Ongoing Buyback
Positive
Mar 25, 2026
Lloyds Banking Group has repurchased 15,272,678 of its ordinary shares on 25 March 2026 as part of its ongoing share buyback programme, with prices ranging between 94.56p and 96.04p and a volume-weighted average of 95.30p per share. The bank plans...
Business Operations and StrategyDelistings and Listing Changes
Lloyds Banking Group to Call $1bn 2027 Senior Notes in May 2026
Neutral
Mar 25, 2026
Lloyds Banking Group will redeem the entire $1 billion outstanding of its 1.627% Senior Callable Fixed-to-Fixed Rate Notes due 2027, exercising a call option ahead of scheduled maturity. The notes will be redeemed on 11 May 2026 at 100% of princip...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Lloyds Banking Group Cancels 22 Million Shares in Ongoing Buyback
Positive
Mar 24, 2026
Lloyds Banking Group has repurchased 22 million of its ordinary shares on 24 March 2026 as part of its ongoing share buyback programme, with prices ranging between 91.74p and 93.56p and a volume-weighted average price of 92.7484p. The bank plans t...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Buys Back and Cancels 22.9 Million Shares
Positive
Mar 23, 2026
Lloyds Banking Group has repurchased 22,939,075 of its ordinary shares on 23 March 2026 under its existing share buyback programme, at prices ranging between 87.62p and 94.10p and a volume-weighted average price of 91.7614p. The bank intends to ca...
Executive/Board ChangesRegulatory Filings and Compliance
Lloyds Banking Group Discloses Senior Executives’ Share Awards and Transactions
Neutral
Mar 23, 2026
Lloyds Banking Group has disclosed a series of share transactions by top executives under its fixed share and buyout award schemes for the first quarter of 2026. Group Chief Executive Charlie Nunn and Chief Financial Officer William Chalmers recei...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Lloyds Banking Group Publishes Prospectus for £60bn Note Programmes
Positive
Mar 23, 2026
Lloyds Banking Group has published an FCA-approved prospectus for its £25 billion Euro Medium Term Note programme and a separate £35 billion programme for Lloyds Bank. The approval and publication of these large issuance frameworks reinf...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Lloyds Banking Group Cancels 20.5 Million Shares in Ongoing Buyback
Positive
Mar 20, 2026
Lloyds Banking Group has repurchased 20,500,000 of its ordinary shares on 20 March 2026 as part of its ongoing share buyback programme, with prices ranging between 91.0200p and 94.6600p and a volume-weighted average of 92.7057p. The bank intends t...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Buys Back and Cancels Over 22 Million Shares
Positive
Mar 19, 2026
Lloyds Banking Group has bought back 22,412,479 of its ordinary shares on 19 March 2026 through Goldman Sachs International as part of its ongoing share repurchase programme. The purchases, executed at prices between 91.64p and 95.00p with a volum...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Lloyds Banking Group Cancels 6.5 Million Shares in Ongoing Buyback
Positive
Mar 18, 2026
Lloyds Banking Group has repurchased 6,470,669 of its ordinary shares on 18 March 2026 as part of its ongoing share buyback programme, with prices ranging between 96.2p and 98.3p and a volume-weighted average price of 97.1933p. The bank intends to...
Stock Buyback
Lloyds Banking Group Buys Back and Cancels Nearly 9 Million Shares
Positive
Mar 17, 2026
Lloyds Banking Group has repurchased 8,943,277 of its ordinary shares on 17 March 2026 as part of its ongoing share buyback programme, with prices ranging between 94.8 pence and 97.08 pence and a volume-weighted average price of 96.5224 pence. The...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Cancels 13 Million Shares in Latest Buyback Tranche
Positive
Mar 16, 2026
Lloyds Banking Group has repurchased 13,036,387 of its ordinary shares on 16 March 2026 as part of its ongoing share buyback programme, paying a volume-weighted average price of 95.1066 pence, with prices ranging between 93.92 pence and 96.08 penc...
Regulatory Filings and Compliance
Lloyds Banking Corrects PDMR Filing on 600,000-Share Disposal
Neutral
Mar 16, 2026
Lloyds Banking Group has corrected a previous regulatory filing to clarify that Chirantan Barua, CEO of Insurance, Pensions Investments and a person discharging managerial responsibilities, sold a total of 600,000 ordinary shares on 10 March 2026...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Buys Back and Cancels Over 19 Million Shares
Positive
Mar 13, 2026
Lloyds Banking Group has repurchased 19,269,076 of its ordinary shares on 13 March 2026 as part of its ongoing share buyback programme, with prices ranging between 94.10p and 95.96p and a volume-weighted average price of 94.9065p. The bank intends...
Regulatory Filings and Compliance
Lloyds Executive Sells 600,000 Shares While Remaining in Line With Policy
Neutral
Mar 13, 2026
Lloyds Banking Group has disclosed that Chirantan Barua, CEO of Insurance, Pensions Investments and a person discharging managerial responsibilities, sold a total of 600,000 ordinary shares in the group on 10 March 2026. The disposals were execut...
Regulatory Filings and ComplianceShareholder Meetings
Lloyds Banking Group Publishes 2026 AGM Notice and Sets Meeting in Edinburgh
Neutral
Mar 13, 2026
Lloyds Banking Group has published its 2026 Notice of Annual General Meeting, submitting the document to the UK National Storage Mechanism and making it accessible via its investor relations website. The materials for the AGM, including the notice...
Stock Buyback
Lloyds Banking Group Buys Back and Cancels Over 6.3 Million Shares
Positive
Mar 12, 2026
Lloyds Banking Group has continued to execute its share buyback strategy, purchasing 6,345,879 ordinary shares on 12 March 2026 through Goldman Sachs International as broker. The shares were acquired at prices ranging from 94.58 pence to 97.74 pen...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Cancels 7.5 Million Shares in Ongoing Buyback
Positive
Mar 11, 2026
Lloyds Banking Group has repurchased 7.5 million of its ordinary shares on 11 March 2026 as part of its ongoing share buyback programme, paying a volume-weighted average price of 98.438 pence per share. The bank intends to cancel the repurchased s...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Cancels Over 6.2 Million Shares in Ongoing Buyback
Positive
Mar 10, 2026
Lloyds Banking Group has repurchased 6,233,224 of its ordinary shares on 10 March 2026 as part of its ongoing share buyback programme, with prices ranging between 97.78p and 99.30p and a volume-weighted average price of 98.70p per share. The bank ...
Executive/Board ChangesRegulatory Filings and Compliance
Lloyds Banking Group executives add shares through incentive plan
Neutral
Mar 10, 2026
Lloyds Banking Group has disclosed routine share dealings by several senior executives under its Share Incentive Plan, involving the monthly purchase of partnership shares and the award of matching shares in the bank’s ordinary stock. The tr...
Business Operations and StrategyStock BuybackFinancial Disclosures
Lloyds Banking Group Cancels 36.9 Million Shares in Ongoing Buyback
Positive
Mar 9, 2026
Lloyds Banking Group has repurchased 36,909,436 of its ordinary shares on 9 March 2026 as part of its ongoing share buyback programme, with prices ranging between 92.36p and 95.14p and a volume-weighted average price of 94.2249p. The bank plans to...
Regulatory Filings and Compliance
Lloyds Banking Executive Sells £1.05m Stake but Retains Required Holding
Neutral
Mar 9, 2026
Lloyds Banking Group disclosed that Andrew Walton, its Chief Sustainability Officer and Chief Corporate Affairs Officer, sold 1,088,615 ordinary shares in the bank on 6 March 2026 at 96.74 pence per share. The bank noted that following this dispos...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Cancels Nearly 31 Million Shares in Ongoing Buyback
Positive
Mar 9, 2026
Lloyds Banking Group has executed another tranche of its ongoing share buyback programme, repurchasing 30,889,591 ordinary shares on 6 March 2026 through Goldman Sachs International. The shares were acquired at prices ranging between 94.5p and 98....
Business Operations and StrategyStock Buyback
Lloyds Banking Group Cancels 28 Million Shares in Ongoing Buyback
Positive
Mar 5, 2026
Lloyds Banking Group has repurchased 28,003,860 of its ordinary shares on 5 March 2026 as part of its ongoing share buyback programme, with prices ranging between 96.44p and 99.54p and a volume-weighted average price of 97.7075p. The bank plans to...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
Lloyds Banking Group Details New LTIP Grants and Release of Executive Share Awards
Neutral
Mar 5, 2026
Lloyds Banking Group has granted new 2026 Long Term Incentive Plan awards and released several tranches of existing share-based awards to members of its executive committee and other senior managers. The LTIP awards, based on performance over 2026...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Buys Back Over 20 Million Shares for Cancellation
Positive
Mar 4, 2026
Lloyds Banking Group has continued its existing share buyback programme by repurchasing 20,187,597 ordinary shares on 4 March 2026 through Goldman Sachs International, paying between 96.2200 pence and 98.8400 pence per share at a volume-weighted a...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Cancels 38.5 Million Shares in Ongoing Buyback
Positive
Mar 3, 2026
Lloyds Banking Group has repurchased 38,484,166 of its ordinary shares as part of its ongoing share buyback programme, with prices ranging between 95.4600p and 98.5000p and a volume-weighted average price of 96.3488p. The bank intends to cancel al...
Stock Buyback
Lloyds Banking Group Repurchases and Cancels Over 28 Million Shares
Positive
Mar 2, 2026
Lloyds Banking Group has executed a substantial repurchase of its own ordinary shares as part of its ongoing share buyback programme. The bank bought 28,174,401 shares on 2 March 2026 at a volume-weighted average price of 99.4738 pence, with the p...
Private Placements and FinancingRegulatory Filings and Compliance
Lloyds Banking Group Issues 220 Million Shares to Satisfy Employee Awards
Neutral
Mar 2, 2026
Lloyds Banking Group has issued and allotted 220,314,633 ordinary shares of 10p each between 19 January and 27 February 2026 to satisfy awards granted under its employee share plans. These new shares have been admitted to trading on the Main Marke...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Advances £1.75bn Share Buyback With Further Share Purchases
Positive
Feb 27, 2026
Lloyds Banking Group has continued its existing share buyback programme, repurchasing 7 million ordinary shares on 27 February 2026 through Goldman Sachs International at a volume-weighted average price of 103.2522 pence. The bank plans to cancel ...
Regulatory Filings and Compliance
Lloyds Banking Group Updates Market on Voting Share Capital
Neutral
Feb 27, 2026
Lloyds Banking Group has confirmed that, as of 27 February 2026, it has 59,029,409,081 ordinary shares of 10p each in issue with full voting rights at general meetings, including those represented by American Depositary Receipts. The bank holds no...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Cancels 8 Million Shares in Ongoing Buyback
Positive
Feb 26, 2026
Lloyds Banking Group has continued its capital return strategy with another tranche of share repurchases under its existing buyback programme. The bank, working through Goldman Sachs International as broker, is focusing on reducing its share count...
Stock Buyback
Lloyds Banking Group Buys Back and Cancels 6 Million Shares
Positive
Feb 25, 2026
Lloyds Banking Group has repurchased 6 million of its ordinary shares on 25 February 2026 as part of its ongoing share buyback programme, with prices ranging between 102.90 pence and 104.55 pence and a volume-weighted average price of 103.7803 pen...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Lloyds Banking Group Cancels 15 Million Shares in Ongoing Buyback
Positive
Feb 24, 2026
Lloyds Banking Group has repurchased 15 million of its ordinary shares on 24 February 2026 as part of its ongoing share buyback programme, at prices ranging between 101.2 pence and 102.9 pence, with a volume-weighted average price of 102.2666 penc...
Business Operations and StrategyStock Buyback
Lloyds Banking Group Buys Back 5 Million Shares for Cancellation
Positive
Feb 23, 2026
Lloyds Banking Group has repurchased 5,000,000 of its ordinary shares on 23 February 2026 as part of its ongoing share buyback programme, at prices ranging between 102.85p and 105.80p, with a volume-weighted average price of 104.5975p. The bank pl...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.