Shares of the United Kingdom-based lender Virgin Money (ASX:VUK) operating in Australia have seen a significant rise, as much as 4.5%, surging to A$3.5.

This marks the highest the shares have reached since January 16th.

The financial company unveiled plans this Wednesday for buybacks of 175 million pound worth of shares during its 2023 financial year.

In addition to this, Virgin Money has managed to maintain its FY outlook, whilst also reporting steady net interest margins within Q3, even in the face of pressure from its mortgage business.

Over one million shares of the financial institution have changed hands, in comparison to the 30-day average volume, which stands at 2.1 million shares.

Out of 4 analysts, one places the stock in the ‘buy’ or higher category, two deem it a ‘hold’, and one categorises it as ‘sell’ or lower.

Their median PT is A$3.20 based on Refinitiv data.

The stocks of Virgin Money have increased by 2.4% this year alone, as of the latest close.

Virgin Money is UK’s prominent lender with operations in Australia, known for its comprehensive financial services.