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The latest update is out from Standard Chartered ( (GB:STAN) ).
Standard Chartered PLC has announced the purchase of 508,745 of its own ordinary shares as part of a share buy-back program. The shares were bought at prices ranging from 1,426.50 to 1,465.00 pence, with a volume-weighted average price of 1,453.35 pence. This move is part of the company’s strategy to manage its capital structure and enhance shareholder value. The purchased shares are intended to be canceled, reducing the total number of shares in issue and potentially increasing the value of remaining shares. This buy-back reflects Standard Chartered’s confidence in its financial position and its commitment to returning 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 is a leading international banking group, primarily focused on providing financial services and products. The company operates in various markets across the globe, with a significant presence in Asia, Africa, and the Middle East. Its services include personal and corporate banking, wealth management, and investment banking.
Average Trading Volume: 5,322,969
Technical Sentiment Signal: Buy
Current Market Cap: £33.13B
Learn more about STAN stock on TipRanks’ Stock Analysis page.