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Standard Chartered ( (GB:STAN) ) just unveiled an update.
Standard Chartered PLC announced the purchase of 512,479 of its ordinary shares as part of its ongoing share buy-back program, with the shares bought at an average price of 1,450.37 pence. The company plans to cancel these shares, reducing the total number of shares in issue to 2,294,638,790, which will adjust the total voting rights accordingly. This strategic move is in line with the company’s efforts to manage its capital structure effectively and enhance shareholder value.
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, offering a range of financial services such as personal and business banking, wealth management, and corporate finance. The company operates primarily in Asia, Africa, and the Middle East, focusing on emerging markets and providing innovative banking solutions to its clients.
Average Trading Volume: 5,296,278
Technical Sentiment Signal: Buy
Current Market Cap: £33.24B
For a thorough assessment of STAN stock, go to TipRanks’ Stock Analysis page.