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Standard Chartered ( (GB:STAN) ) just unveiled an announcement.
Standard Chartered PLC announced the purchase of 517,188 of its ordinary shares as part of its ongoing share buy-back program. The shares were acquired at a volume-weighted average price of 1,434.62 pence per share, with the intention to cancel them, thereby reducing the total number of shares in issue to 2,287,962,526. This move is part of Standard Chartered’s strategy to manage its capital structure and enhance shareholder value.
The most recent analyst rating on (GB:STAN) stock is a Hold with a £16.54 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 operates in the banking industry, offering services such as personal and corporate banking, wealth management, and investment banking.
Average Trading Volume: 5,059,334
Technical Sentiment Signal: Buy
Current Market Cap: £32.86B
For a thorough assessment of STAN stock, go to TipRanks’ Stock Analysis page.