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The latest update is out from Lloyds Banking ( (GB:LLOY) ).
Lloyds Banking Group PLC announced the purchase of over 10 million 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 93.5 to 95 pence per share. This move reflects the company’s strategy to enhance shareholder value by reducing the number of shares in circulation, thereby potentially increasing the value of remaining shares. The cancellation of these shares aligns with regulatory requirements and underscores Lloyds’ commitment to optimizing its capital structure.
The most recent analyst rating on (GB:LLOY) stock is a Buy with a £110.00 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 score is driven by strong earnings call results and positive technical indicators. Financial performance shows stability but highlights areas needing improvement, such as cash flow and leverage. Valuation metrics are favorable, supporting the stock’s attractiveness.
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, offering a wide range of banking and financial services, including personal and commercial banking, insurance, and wealth management. The company focuses on serving the UK market with a strong emphasis on retail and commercial financial services.
Average Trading Volume: 146,200,192
Technical Sentiment Signal: Buy
Current Market Cap: £53.4B
See more data about LLOY stock on TipRanks’ Stock Analysis page.