Lloyds share price weakens with Aldermore math raising buyback doubts
Lloyds Banking Group shares fell 0.6% to 108.45p by midday Wednesday, trading 5.4% below their 52-week high. Berenberg initiated Lloyds at “hold” with a 117p target, following reports Lloyds may bid for Aldermore, valued at £1.35 billion. Lloyds bought back 5 million shares Tuesday at 109.21p each. The bank’s CET1 ratio stood at 13.4% at March 31, above its 13% target.