Standard Chartered Executes Share Buy-back to Optimize Capital Structure

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

Standard Chartered PLC announced the purchase of 1,167,913 of its ordinary shares as part of a share buy-back program. The shares were acquired at prices ranging from 1,134.5000 to 1,157.0000 GB pence, with a volume-weighted average price of 1,149.4407 GB pence. The company plans to cancel these shares, reducing the total number of shares in issue to 2,356,364,605, which will also be the total number of voting rights. This move is part of Standard Chartered’s strategy to manage its capital structure effectively and could potentially enhance shareholder value.

The most recent analyst rating on (GB:STAN) stock is a Hold with a £8.15 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 overall stock score is supported by strong financial growth, strategic initiatives like share buybacks, and an attractive valuation. However, challenges such as declining cash flows and mixed technical indicators temper its overall attractiveness. The positive earnings call and corporate events further bolster the stock’s outlook.

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 wide range of products and services, including personal banking, corporate banking, wealth management, and investment services.

Average Trading Volume: 8,222,338

Technical Sentiment Signal: Buy

Current Market Cap: £26.79B

For an in-depth examination of STAN stock, go to TipRanks’ Stock Analysis page.