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Lloyds Banking ( (GB:LLOY) ) has issued an update.
Lloyds Banking Group PLC announced the purchase of 763,230 of its ordinary shares as part of its ongoing share buyback program. The shares were bought from Morgan Stanley & Co. International plc at prices ranging from 83.6800 to 84.1000 pence per share, with a volume-weighted average price of 83.8104 pence. The company plans to cancel these shares, a move that may impact its share capital structure and potentially enhance shareholder value by reducing the number of shares in circulation.
The most recent analyst rating on (GB:LLOY) stock is a Buy with a £100.00 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, providing a wide range of banking and financial services primarily focused on retail and commercial customers. The company is known for its comprehensive suite of products, including personal and business banking, insurance, and wealth management services.
Average Trading Volume: 149,310,927
Technical Sentiment Signal: Buy
Current Market Cap: £48.99B
For a thorough assessment of LLOY stock, go to TipRanks’ Stock Analysis page.