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An announcement from Standard Chartered ( (GB:STAN) ) is now available.
Standard Chartered PLC announced the purchase of 538,137 of its ordinary shares as part of its ongoing share buy-back program. The shares were acquired at a volume-weighted average price of 1,401.60 pence per share, with the intention to cancel them, reducing the total number of shares in issue to 2,285,826,411. This move is part of the company’s strategy to optimize its capital structure and enhance shareholder value, aligning with regulatory requirements and market conditions.
The most recent analyst rating on (GB:STAN) stock is a Buy with a £1548.00 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 financial performance and positive earnings call are offset by technical indicators showing bearish momentum and cash flow challenges. The stock’s valuation remains attractive, suggesting potential for long-term gains.
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 range of products including personal banking, corporate banking, and wealth management services, catering to a diverse clientele in emerging markets.
Average Trading Volume: 5,054,319
Technical Sentiment Signal: Buy
Current Market Cap: £31.72B
For an in-depth examination of STAN stock, go to TipRanks’ Overview page.