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Lloyds Banking ( (GB:LLOY) ) has shared an announcement.
Lloyds Banking Group PLC announced the purchase of 18,732,187 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 81.5780 pence per share. This move is part of Lloyds’ strategy to enhance shareholder value by reducing the number of outstanding shares, which could potentially improve earnings per share and return on equity.
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 focused on personal and commercial customers. The company is known for its extensive network of branches and its commitment to serving the financial needs of its clients.
Average Trading Volume: 149,469,925
Technical Sentiment Signal: Buy
Current Market Cap: £48.76B
Learn more about LLOY stock on TipRanks’ Stock Analysis page.