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An announcement from Standard Chartered ( (GB:STAN) ) is now available.
Standard Chartered PLC announced the repurchase of 505,871 of its ordinary shares as part of its ongoing share buy-back program. The shares were purchased at prices ranging from 1,440.00 to 1,479.00 pence, with a volume-weighted average price of 1,456.66 pence. The company plans to cancel these shares, reducing the total number of shares in issue to 2,293,098,096, which will also be the total number of voting rights. This move is part of Standard Chartered’s strategy to manage its capital structure and return value to shareholders.
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 operates in the financial services industry, providing a range of banking and financial products and services. The company focuses on markets in Asia, Africa, and the Middle East, offering services such as personal banking, corporate banking, and wealth management.
Average Trading Volume: 5,273,237
Technical Sentiment Signal: Buy
Current Market Cap: £33.63B
For detailed information about STAN stock, go to TipRanks’ Stock Analysis page.