Lloyds Banking stock: RBC cuts target to GBp 115.00

Published on 10/20/2026 at 16:32 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Results are due October 29, 2026 after first-half net income of GBP 9.7 billion. Lloyds Banking stock costs EUR 1.22 on October 20, 2026.

Analyst target and reporting date

RBC Capital cut its Lloyds Banking target from GBp 124.00 to GBp 115.00 on October 16, 2026.
Lloyds Banking will publish third-quarter 2026 results on October 29, 2026.
Lloyds Banking stock was trading at EUR 1.22 at Lang & Schwarz on October 20, 2026 at 4:30 p.m. CEST.
First-half 2026 net income was GBP 9.7 billion, up 9.00 percent year over year.

Flatlay mit Aktienzertifikat, ISIN-Karte, Taschenrechner und Hypothekendokument — Lloyds Banking Group (GB0008706128) symbolisiert Bankgeschäft mit Aktienzertifikat, ISIN-Karte, Taschenrechner und Hypothekenunterlagen auf dem Schreibtisch, Illustration mit AI erstellt.

Lloyds Banking (ISIN GB0008706128) was trading at EUR 1.22 at Lang & Schwarz on October 20, 2026 at 4:30 p.m. CEST. Markets Insider reported on October 16, 2026 that RBC Capital had downgraded the bank from Outperform to Sector Perform and cut its target from GBp 124.00 to GBp 115.00.

The downgrade puts deposit competition at the center of the latest analyst debate. RBC Capital said tougher competition in the UK deposit market could pressure Lloyds Banking's net interest margin, while its 2028 pre-tax profit estimate was reduced by 6.00 percent, according to Markets Insider.

Results arrive on October 29

Lloyds Banking is scheduled to publish its third-quarter 2026 results on October 29, 2026. The date is stated on the company's investor page, which also identifies the release time as 7:00 a.m. and the presentation time as 9:30 a.m. Lloyds Banking Group reported first-half 2026 net income of GBP 9.7 billion, up 9.00 percent year over year, while statutory profit after tax reached GBP 3.1 billion, up 23.00 percent.

What does the target change mean?

Using the London-listed share price of GBp 102.65 at 3:31 p.m. London time on October 20, 2026, the new RBC target of GBp 115.00 lies 12.03 percent above the price. The target remains below the GBp 123.10 52-week high and above the GBp 82.78 low reported for the same listing. The finance group carries a market capitalization of GBP 58.9 billion and a price-to-earnings ratio of 12.71.

Capital returns remain material

The first-half investor figures also showed a 17.10 percent return on tangible equity and GBP 1.9 billion of total capital return. That amount included a 30.00 percent increase in dividend per share and a GBP 1 billion share buyback. The company said its 2026 outlook included underlying net interest income above GBP 14.9 billion, a cost-to-income ratio below 50.00 percent and return on tangible equity above 16.00 percent.

Stock price and investor view

For investors, the next report will test whether the bank can defend its income outlook while deposit competition intensifies. The analyst split is visible in the latest target range, with RBC Capital taking a more cautious position than the target values cited by other research firms.

The further course of trading is shown by the continuously updated real-time quote of Lloyds Banking stock.