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Lloyds Banking ( (GB:LLOY) ) has issued an announcement.
Lloyds Banking Group PLC announced the purchase of 9,650,943 of its ordinary shares as part of its ongoing share buyback programme. The shares were acquired at a volume weighted average price of 84.0833 pence per share, and the company plans to cancel these shares. This move is part of an effort to enhance shareholder value and optimize the company’s capital structure, reflecting a strategic focus on returning capital to shareholders.
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 prominent financial services provider in the UK, offering a wide range of banking and financial products. The company focuses on retail and commercial financial services, serving millions of customers with a strong emphasis on digital banking solutions.
Average Trading Volume: 147,532,313
Technical Sentiment Signal: Buy
Current Market Cap: £49.9B
Find detailed analytics on LLOY stock on TipRanks’ Stock Analysis page.