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Lloyds Banking ( (GB:LLOY) ) just unveiled an announcement.
Lloyds Banking Group has assessed the implications of the FCA’s proposed industry-wide redress scheme for motor finance following a Supreme Court judgment. The Group has increased its provision by £800 million, bringing the total to £1.95 billion, due to the likelihood of more historical cases being eligible for redress. Lloyds is concerned that the FCA’s proposed methodology does not accurately reflect customer losses or align with recent legal judgments. The outcome of the FCA’s consultation may change based on further legal proceedings and representations from various parties.
The most recent analyst rating on (GB:LLOY) stock is a Hold with a £80.00 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 major financial services group providing a wide range of banking and financial services, primarily focused on the UK market. The company offers products and services including personal and commercial banking, insurance, and wealth management.
Average Trading Volume: 150,467,191
Technical Sentiment Signal: Buy
Current Market Cap: £48.99B
For a thorough assessment of LLOY stock, go to TipRanks’ Stock Analysis page.