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An announcement from Standard Chartered ( (GB:STAN) ) is now available.
Standard Chartered PLC announced the purchase of 521,005 of its ordinary shares from Goldman Sachs International as part of its ongoing share buy-back program. The shares were bought at prices ranging from 1,437.50 to 1,462.50 pence, with a volume-weighted average price of 1,449.96 pence. The company plans to cancel these shares, which will result in a total of 2,288,479,714 ordinary shares in issue, maintaining the same number of voting rights. This buy-back is part of a strategic move to optimize the company’s capital structure and potentially 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 multinational banking and financial services company. It operates in various markets around the world, offering a range of products and services including retail banking, corporate banking, and wealth management. The company focuses on emerging markets in Asia, Africa, and the Middle East.
Average Trading Volume: 5,076,929
Technical Sentiment Signal: Buy
Current Market Cap: £33.18B
For a thorough assessment of STAN stock, go to TipRanks’ Stock Analysis page.