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An update from Standard Chartered ( (GB:STAN) ) is now available.
Standard Chartered PLC announced the purchase of 517,965 of its ordinary shares as part of its ongoing share buy-back program. The shares were acquired at an average price of 1,436.54 pence per share, and the company plans to cancel these shares, reducing the total number of shares in issue to 2,297,210,746. This move is part of Standard Chartered’s strategy to enhance shareholder value and optimize its capital structure.
The most recent analyst rating on (GB:STAN) stock is a Hold with a £15.25 price target. To see the full list of analyst forecasts on Standard Chartered stock, see the GB:STAN Stock Forecast page.
Spark’s Take on GB:STAN Stock
According to Spark, TipRanks’ AI Analyst, GB:STAN is a Outperform.
Standard Chartered’s strong earnings call performance and attractive valuation are key strengths. Financial performance is solid but challenged by declining cash flows. Technical indicators show a positive trend, supporting the overall score.
To see Spark’s full report on GB:STAN stock, click here.
More about Standard Chartered
Standard Chartered PLC is a leading international banking group, primarily focused on providing financial services across Asia, Africa, and the Middle East. The company offers a wide range of products and services, including personal banking, corporate banking, wealth management, and investment banking, catering to both individual and institutional clients.
Average Trading Volume: 5,294,078
Technical Sentiment Signal: Buy
Current Market Cap: £32.89B
Learn more about STAN stock on TipRanks’ Stock Analysis page.