Lloyds Banking Group (LSE; LLOY) is said to be the most widely owned share in the UK, but I’m not sure why. Over the past 15 years, the stock has returned -1.8% per annum, including dividends, underperforming the FTSE All-Share by nearly 10% per year. Its total returns have lagged behind the wider index over the past five and ten years too.
It is clear why the bank has struggled since the financial crisis. In the years immediately after the crisis it was preoccupied with shrinking its operations and stabilising its balance
