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Lloyds Banking ( (GB:LLOY) ) has provided an update.
Lloyds Banking Group PLC announced the purchase of 7,515,375 of its ordinary shares from Morgan Stanley & Co. International plc as part of its ongoing share buyback program. The shares were bought at a volume-weighted average price of 73.2312 pence per share and will be canceled, reflecting the company’s strategy to return value to shareholders and optimize its capital structure.
The most recent analyst rating on (GB:LLOY) stock is a Hold with a £0.60 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 presents a mixed outlook. Its strong technical indicators and positive sentiment from the earnings call and corporate events support its attractiveness. However, declining profitability and cash flow issues pose challenges. The stock’s reasonable valuation and attractive dividend yield balance these concerns, providing a favorable long-term potential.
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, providing a wide range of banking and financial services primarily focused on personal and commercial banking, insurance, and wealth management. The company operates through well-known brands such as Lloyds Bank, Halifax, and Bank of Scotland, serving millions of customers across the UK.
Average Trading Volume: 186,647,002
Technical Sentiment Signal: Buy
Current Market Cap: £43.78B
See more insights into LLOY stock on TipRanks’ Stock Analysis page.