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Lloyds Banking ( (GB:LLOY) ) has issued an update.
Lloyds Banking Group PLC announced the purchase of 614,123 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 84.2782 pence per share. This move is part of the company’s strategy to enhance shareholder value by reducing the number of shares outstanding, which could potentially improve earnings per share and return on equity. The purchased shares are intended to be canceled, aligning with regulatory compliance under the Market Abuse Regulation.
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 leading financial services group in the United Kingdom, primarily offering a wide range of banking and financial services, including retail and commercial banking, insurance, and wealth management. The company focuses on serving individual and business customers, maintaining a strong presence in the UK market.
Average Trading Volume: 147,559,318
Technical Sentiment Signal: Buy
Current Market Cap: £49.35B
See more data about LLOY stock on TipRanks’ Stock Analysis page.