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The Lloyds Bank share price has touched 50p. Here’s what I’d do now

first_img Manika Premsingh | Wednesday, 2nd June, 2021 | More on: LLOY A little over a month ago, I was confident that Lloyds Bank (LSE: LLOY) was on its way back up. In today’s trading, the Lloyds Bank share price reached 50p, the level I had predicted. Why I expected the Lloyds Bank share price to riseMy argument was based on the momentum recently seen in its share price. A positive earnings report, improving economy, and its own bullishness were the reasons I expected to see these gains. 5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Specifically, I had said that this was possible in a matter of months, if not less. It has taken just a month and a few days. In fact, it was so increasingly evident to me that it would cross 50p soon, that by mid-May I had said that it could now head to the 60p mark. The next important questionThese short-term price targets are helpful to me as an investor to understand the share better. At the same time, we at the Motley Fool are interested in a long-term answer. The question to which is: Can the Lloyds share price continue to generate capital gains for me over time?I think it is important to ask this question right now more than at any other time I have tracked the stock. This is because until last year, Lloyds paid a hefty dividend. This meant it was a somewhat attractive stock despite its weak share price trend. But last year, the Bank of England asked banks to first stop paying dividends and then allowed them only cautiously. As a result, the Lloyds dividend yield is low. So if its share price does not continue to rise, I just do not see any reason to buy the share. There is much hopeI am hopeful though. The regulator hopes that the “guardrails” as they are called, will be there for only some time. Lloyds’ and other banks’ latest healthy results only encourage this idea further. As do the BoE’s optimistic projections for economic growth. This means that not only can it start paying dividends, its share price can continue rising too. But also a catchBut here is a catch.House prices are still elevated, but BoE’s numbers from earlier today show a sharp fall in home loans in April compared to the month before. Lloyds is the country’s biggest lender in the category, so I would watch this trend going forward. This is important because the stamp duty holiday gave a big push to the housing market in an otherwise poor year. And it will start getting withdrawn from the end of June. My takeaway for the Lloyds Bank share priceI think the next update from Lloyds is an important one. It will give a real insight into the bank’s performance after the economic wheels start turning again. It might also give guidance to help in making an assessment of its future. As I said in my last article on the bank, I will wait for another update before making a call on the Lloyds share price.  I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Image: Lloyds Our 6 ‘Best Buys Now’ Shares The Lloyds Bank share price has touched 50p. Here’s what I’d do now Enter Your Email Addresscenter_img Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Manika Premsingh has no position in any of the shares mentioned. The Motley Fool UK has recommended Lloyds Banking Group. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Simply click below to discover how you can take advantage of this. “This Stock Could Be Like Buying Amazon in 1997” I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. 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