Lloyds Banking Group PLC
LLOY: XLON (GBR)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
GBX 98.00 | Rxjlwk | Szqnktrn |
Lloyds Earnings: Uneventful Quarter as Net Interest Income Outlook Remains Complex
Narrow-moat Lloyds reported first-quarter underlying profits before impairment of GBP 2.463 billion, up 13% on a sequential basis. Returns on tangible equity of 19.1% stood out positively on an otherwise uneventful quarter. We maintain our GBX 77 per share fair value estimate.