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Lloyds Banking ( (GB:LLOY) ) has provided an update.
Lloyds Banking Group PLC announced the repurchase of 8,024,077 of its ordinary shares as part of its ongoing share buyback program. The shares were purchased from Morgan Stanley & Co. International plc, with the company planning to cancel the repurchased shares, reflecting its strategy to enhance shareholder value.
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 operates within the financial services industry, primarily offering banking and financial products to consumers and businesses. The company focuses on maintaining a strong presence in the UK market, providing a range of services including retail and commercial banking, insurance, and wealth management.
Average Trading Volume: 149,478,130
Technical Sentiment Signal: Buy
Current Market Cap: £48.55B
Find detailed analytics on LLOY stock on TipRanks’ Stock Analysis page.