Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Standard Chartered ( (GB:STAN) ) has shared an announcement.
Standard Chartered PLC announced the purchase of 513,255 of its ordinary shares from Goldman Sachs International as part of its ongoing share buy-back program. The company intends to cancel these shares, reducing the total number of shares in issue to 2,296,697,491, which will also be the total number of voting rights. This move is part of Standard Chartered’s strategy to optimize its capital structure and enhance shareholder value.
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 and products across Asia, Africa, and the Middle East. The company offers a wide range of services including retail banking, corporate finance, and wealth management, catering to both individual and institutional clients.
Average Trading Volume: 5,322,969
Technical Sentiment Signal: Buy
Current Market Cap: £33.13B
For an in-depth examination of STAN stock, go to TipRanks’ Overview page.