Standard Chartered Advances Share Buy-Back Program

Standard Chartered ( (GB:STAN) ) just unveiled an announcement.

Standard Chartered PLC has announced the purchase of 480,985 of its ordinary shares as part of its ongoing share buy-back program. The shares were acquired at a volume-weighted average price of 1,592.07 pence per share, with the intention to cancel them, reducing the total number of shares in issue to 2,282,067,506. This move is part of the company’s strategy to manage its capital structure and return value to shareholders, potentially enhancing shareholder value and market confidence.

The most recent analyst rating on (GB:STAN) stock is a Buy with a £1793.00 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, particularly in revenue growth and balance sheet strength, is complemented by positive earnings call insights. Technical indicators show bullish momentum, though caution is advised due to overbought signals. Valuation is reasonable, but the dividend yield is less attractive. Overall, the stock presents a solid investment opportunity with some risks to monitor.

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 offering financial services such as personal and business banking, wealth management, and investment solutions. The company operates across Asia, Africa, and the Middle East, focusing on emerging markets and providing a wide range of financial products to its global clientele.

Average Trading Volume: 5,043,838

Technical Sentiment Signal: Buy

Current Market Cap: £36.36B

For a thorough assessment of STAN stock, go to TipRanks’ Stock Analysis page.