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Lloyds Banking ( (GB:LLOY) ) has issued an update.
Lloyds Banking Group PLC announced the purchase of 588,003 of its ordinary shares as part of its ongoing share buyback program. This transaction, executed through Morgan Stanley & Co. International plc, is part of a larger initiative to repurchase up to £1.7 billion of shares, with the intention of canceling them to enhance shareholder value. Since the program’s inception, Lloyds has repurchased over 1.7 billion shares, reflecting a significant commitment to returning capital to shareholders.
The most recent analyst rating on (GB:LLOY) stock is a Hold with a £0.84 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 is a major financial services group in the UK, providing a wide range of banking and financial services, primarily focusing on retail and commercial banking. It operates under various brands, including Lloyds Bank, Halifax, and Bank of Scotland, serving millions of customers across the UK.
Average Trading Volume: 149,499,899
Technical Sentiment Signal: Buy
Current Market Cap: £49B
Find detailed analytics on LLOY stock on TipRanks’ Stock Analysis page.