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Standard Chartered ( (GB:STAN) ) just unveiled an announcement.
Standard Chartered PLC announced the repurchase of 513,599 of its ordinary shares as part of a previously detailed share buy-back program. The shares were purchased at prices ranging from 1,433.00 to 1,464.50 pence, with a volume-weighted average price of 1,447.45 pence. The company plans to cancel these shares, reducing the total number of shares in issue to 2,289,513,475, which will also be the new total number of voting rights. This move is part of Standard Chartered’s strategy to manage its capital structure effectively, potentially enhancing shareholder value and signaling confidence in its financial position.
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 leading international banking group, primarily focused on providing financial services and products across Asia, Africa, and the Middle East. The company offers a wide range of services including personal banking, corporate banking, and wealth management, catering to a diverse market with a strong emphasis on emerging markets.
Average Trading Volume: 5,201,844
Technical Sentiment Signal: Buy
Current Market Cap: £33.32B
See more insights into STAN stock on TipRanks’ Stock Analysis page.