Lloyds Share Price Today, 24 November 2025: Curve Deal, New Share Listing and Buybacks Shape the Outlook for LLOY Stock

Updated: 24 November 2025

Lloyds Banking Group (LSE: LLOY) ended Monday’s London session slightly higher, as investors weighed a fresh listing of 195 million new shares against ongoing buybacks, the planned acquisition of fintech Curve and a mixed macro backdrop for UK banks.

According to closing data from Hargreaves Lansdown, Lloyds shares finished around 87.3p, up roughly 0.25% on the day, after trading between about 87.28p and 89.25p. That leaves the stock near the upper half of its 52‑week range of roughly 52p to 96p, with a market capitalisation of about £51.4bn and a trailing dividend yield in the region of 3.6%. ^[1]

Over the last year, the rally has been striking: Hargreaves Lansdown data show Lloyds shares up around 58% year‑on‑year and more than 140% over five years, even after recent volatility. ^[2]

Below is a breakdown of what moved the Lloyds share price today and the key storylines investors are watching.

Lloyds share price today: key numbers at the close

Based on Hargreaves Lansdown’s end‑of‑day snapshot for 24 November 2025: ^[3]

Closing range: Sell 87.32p / Buy 87.36p
Daily move: +0.22p (+0.25%) versus Friday’s close of 87.12p
Intraday range:
- Open: 87.96p
- High: 89.25p
- Low: 87.28p
52‑week range: c. 52.44p – 95.70p
Market cap: about £51.4bn
Volume: just over 18 million shares traded
Trailing P/E: ~13.8x
Indicated dividend yield: ~3.6%

Intraday data from Investing.com show Lloyds trading in the 87–88p band during today’s session, with a day range of 87.27p–88.14p and the same 52‑week extremes of roughly 52p and 96p. ^[4]

In short, Lloyds is treading water just above the mid‑80s, consolidating a powerful 12‑month rally rather than breaking decisively higher.

Fresh for 24 November: investor outlook and new shares hitting the market

1. New investor note highlights 8.15% “potential upside”

The most directly Lloyds‑focused article dated 24 November 2025 comes from DirectorsTalk. The piece, titled “Lloyds Banking Group (LLOY.L): Investor Outlook Reveals 8.15% Potential Upside”, argues that the stock still offers modest upside from current levels. ^[5]

Key points from that note (which itself draws on market data providers):

Current price reference: It cites Lloyds at 87.12p within a 52‑week range of roughly 52.8p–95.2p.
Analyst target: An average price target of 94.22p, implying about 8.15% upside from the quoted level.
Recommendation split: Around 12 “buy” ratings and 6 “hold” ratings, with no “sell” recommendations flagged in that dataset.
Income angle: The article highlights a dividend yield in the 3.8% area and a payout ratio near 58%, presenting Lloyds as an income‑friendly UK bank.
Technical signals:
- 50‑day moving average around 86p
- 200‑day moving average just under 78p
- RSI near 56, suggesting neither overbought nor oversold territory

The overall tone is constructive: Lloyds is framed as a stable, large‑cap UK bank with a reasonable dividend and some further capital growth potential, though valuations quoted in that note (such as a very high “forward P/E” figure) clearly depend on a particular data feed and should be treated with caution. ^[6]

2. 195 million new Lloyds shares admitted to listing today

The other major corporate development tied specifically to 24 November 2025 is the admission to listing of a large block of new Lloyds shares.

On 20 November, Lloyds announced via a Regulatory News Service (RNS) filing that it had applied for a block listing of 195,000,000 ordinary shares of 10p each. These shares are allocated across several employee and incentive schemes, including: ^[7]

Executive Group Ownership Plan 2016 – 900,000 shares
Long Term Share Plan 2020 – 27.1m shares
Share Incentive Plan – 27.0m shares
Sharesave Scheme 2017 – 140.0m shares

The RNS stated that admission of these shares to the Official List and to trading on the London Stock Exchange was expected on 24 November 2025, and a separate Official List Notice from the Financial Conduct Authority confirms the listing of a 195m‑share block for Lloyds today. ^[8]

For existing shareholders, this does not represent a cash‑raising rights issue, but it does increase the pool of shares that can be issued under employee and savings schemes, adding a potential source of dilution over time. That said, Lloyds is also running a sizeable share buyback programme, which partially offsets the effect.

Curve acquisition still dominates the strategic story

Although the acquisition itself was announced last week, the planned purchase of London‑based fintech Curve remains front‑and‑centre in how markets are thinking about Lloyds.

On 19 November, Lloyds published a detailed RNS confirming that it will acquire Curve, a UK‑ and EEA‑regulated digital wallet platform that lets users combine multiple bank cards into one app, “go back in time” by moving past transactions between accounts, earn extra rewards and avoid FX fees on linked cards. ^[9]

Highlights from the deal announcement:

Strategic goal: Embed Curve Pay and Curve’s wallet technology into Lloyds’ mobile banking apps to deliver more flexible payment options, smarter budgeting and personalised money management tools for its 28 million customers. ^[10]
Financial impact: Lloyds explicitly states the transaction is not expected to be material for group capital or its 2025–26 financial guidance. ^[11]
Timing: Completion is targeted for the first half of 2026, subject to regulatory approvals. ^[12]

External coverage from outlets including Bloomberg, MarketWatch and Investing.com puts the deal value in the £120–125m range, positioning it as a meaningful but bolt‑on transaction focused on digital capability rather than a transformational merger. ^[13]

Legal challenge clouds the Curve deal

The Curve story has taken a twist: at least one Curve shareholder has filed a legal challenge aimed at blocking the sale to Lloyds, according to reports carried by MSN and summarised by MarketBeat. ^[14]

The challenge, filed by investor IDC Ventures according to headlines referenced on the Hargreaves Lansdown site, argues against the agreed sale terms and could delay or complicate completion of the acquisition. ^[15]

For Lloyds shareholders, the implications are:

Execution risk: Extra legal steps could push back the timeline to integrate Curve’s technology into Lloyds’ platforms.
Potential additional costs: Depending on how the dispute is resolved, Lloyds might face legal expenses or face pressure to tweak deal terms, although there is no indication yet of a material cost impact.
No change to near‑term earnings guidance: Lloyds has already said the deal is not material to its financial guidance; the legal challenge primarily affects strategic delivery and perception rather than 2025 earnings per se. ^[16]

So far, markets appear to see the challenge as noise rather than a thesis‑breaking event. Lloyds’ share price has eased back from mid‑November highs but remains broadly in the same upper‑80s range it occupied before the news.

Buybacks versus new shares: what today’s listing means for LLOY

Recent news flow around Lloyds’ capital actions has been busy:

Ongoing buybacks: Multiple RNS notices in mid‑November show Lloyds repurchasing around 10–11 million shares per day as part of its ongoing capital return programme. ^[17]
195m‑share block listing: As noted above, the newly listed shares will be used to satisfy various employee share and savings plans rather than to raise fresh equity directly. ^[18]

From an investor‑perspective, the moving parts work like this:

Buybacks reduce the share count, boosting earnings per share (EPS) and signalling confidence in Lloyds’ capital position.
Employee share schemes create new shares over time, partially offsetting buybacks but aligning staff incentives with shareholder value.
The net effect on dilution depends on how many shares are ultimately issued under these plans versus how many are absorbed through repurchases.

Commentary collated by MarketBeat frames the block listing as a neutral signal: something to watch in terms of supply, but largely routine for a large bank actively using share‑based pay and savings schemes. ^[19]

Digital mortgages: Halifax launches its first fully digital FMA

Beyond wallets and buybacks, Lloyds is also pushing deeper into digital mortgages.

On 20 November, industry outlet Mortgage Solutions reported that Mortgage Brain and Lloyds Banking Group have delivered the first fully digital Full Mortgage Application (FMA) for Halifax, one of Lloyds’ key high‑street brands. ^[20]

According to the report:

The new process lets brokers go from sourcing to submission in “one seamless journey” via Mortgage Brain’s Submissions Brain platform.
Automatic data pre‑population is expected to save brokers around 30 minutes per application, reducing re‑keying and duplication.
Lloyds’ head of strategic and technology partnerships described the initiative as a major milestone in making the mortgage journey “simpler, faster and more accurate”, freeing advisers to focus more on client advice than admin. ^[21]

While this sort of operational news rarely moves the share price on its own, it matters for the medium‑term investment case:

Digitalisation can cut costs and improve the customer experience.
Better data flows should help Lloyds manage credit risk and regulatory reporting in the mortgage book.
Combined with the Curve deal, it reinforces the narrative of Lloyds as a UK bank trying to compete aggressively on technology and user experience, not just on price.

How the market is valuing Lloyds now

Today’s investor‑focused coverage paints a nuanced picture of Lloyds’ valuation:

The DirectorsTalk note pegs Lloyds at an implied ~8% upside to a consensus target price around 94p, based on aggregated analyst estimates. ^[22]
At roughly 87p, Lloyds trades at a forward multiple that looks modest versus many global banks, though UK bank valuations are generally compressed given the domestic focus and regulatory overhang. ^[23]
MarketBeat flags that Shore Capital recently reiterated a “Hold” rating with an 84p target, underscoring that not all brokers see significant further upside from here after the strong run. ^[24]

Looking at fundamentals:

Lloyds remains heavily exposed to the UK retail and mortgage market, so its earnings are sensitive to Bank of England rate cuts, credit quality in the mortgage and consumer loan books, and regulatory developments (especially around motor finance redress). ^[25]
Hargreaves Lansdown data show a P/E around 13–14x trailing earnings and a dividend yield in the mid‑3% range, lower than this time last year because the share price has risen faster than the dividend. ^[26]

Put simply, Lloyds is no longer the bargain‑basement recovery play it was when shares languished near 50p, but analysts still see moderate upside plus income, assuming the UK economy avoids a severe downturn.

Key risks and catalysts to watch after today

For anyone following LLOY stock after today’s close, several themes stand out:

Curve legal challenge outcome
- A quick resolution in Lloyds’ favour would clear a cloud over its digital strategy; a prolonged dispute could delay integration benefits. ^[27]
Execution of buybacks versus employee issuance
- Investors will be watching whether the net share count continues to fall, which would support EPS and the share price, or whether issuance from schemes eats into repurchase progress. ^[28]
Macro and Bank of England policy
- Markets currently expect a lower base rate path over the next couple of years, which may pressure Lloyds’ net interest margin, even as lower rates support borrowers and reduce default risk. ^[29]
Regulatory and conduct overhangs
- The motor finance investigation and other conduct issues have already hit profitability; any new provisions or adverse findings would be a clear negative for the equity story. ^[30]
Further digital initiatives
- Progress on Halifax’s digital mortgage journey and Curve integration – along with Lloyds’ broader AI and digital assistant plans reported earlier this month – will influence how markets value its long‑term return on equity relative to peers. ^[31]

Bottom line: why Lloyds stock barely budged today

On 24 November 2025, Lloyds shares closed only slightly higher, despite a fairly packed backdrop of strategic and capital actions. That muted move makes sense:

The 195m‑share block listing is a planned, largely technical step tied to employee schemes, not a surprise cash call. ^[32]
The Curve acquisition and Halifax digital mortgage rollout underscore Lloyds’ digital ambition, but neither changes near‑term earnings guidance. ^[33]
The legal challenge to the Curve sale injects uncertainty but, for now, looks like a manageable execution risk rather than a deal‑breaker. ^[34]
After a near‑60% 12‑month rally, much of the “easy” recovery story may already be in the price, leaving the shares more responsive to surprises – positive or negative – than to routine capital actions.

For investors and traders scanning Google News or Discover today, the message is straightforward: Lloyds remains a domestically focused UK banking giant, now trading in the high‑80p range, with modest consensus upside, an active buyback, growing digital ambitions – and a Curve‑shaped legal question mark to resolve.

Important note: This article is for information and news purposes only and is not investment advice. Always do your own research or consult a regulated financial adviser before making investment decisions.