The Lloyds (LSE:LLOY) share price has absolutely crushed the FTSE 100 in recent times. According to AJ Bell, the five-year annualised total return is just shy of 23%.

Put another way, £10k invested in the Black Horse bank in mid-2021 would now be worth almost £28k, assuming dividends were reinvested. This comes after double-digit gains in four out of the past five years, including a scorching 85% total return in 2025.

The stock is off to a flyer in 2026 too, gaining 16.7%. Meanwhile, the average price target from 19 analysts suggests the share price could edge up to almost 124p over the next 12 months.

But with risks mounting in the global economy, and the new government’s upcoming autumn Budget…