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Standard Chartered ( (GB:STAN) ) just unveiled an announcement.
Standard Chartered PLC announced the repurchase of 535,212 of its ordinary shares as part of its ongoing share buy-back program. The shares were purchased at a volume-weighted average price of 1,399.30 pence per share, with the intention to cancel them, reducing the total number of shares in issue to 2,285,291,199. This move is part of the company’s strategy to optimize its capital structure and enhance shareholder value, aligning with regulatory requirements and pre-set parameters.
The most recent analyst rating on (GB:STAN) stock is a Buy with a £1548.00 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 financial performance and positive earnings call are offset by technical indicators showing bearish momentum and cash flow challenges. The stock’s valuation remains attractive, suggesting potential for long-term gains.
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 in the areas of personal, business, and corporate banking. The company operates across various markets, with a significant presence in Asia, Africa, and the Middle East, catering to a diverse clientele with a wide range of banking solutions.
Average Trading Volume: 5,054,319
Technical Sentiment Signal: Buy
Current Market Cap: £31.72B
See more insights into STAN stock on TipRanks’ Stock Analysis page.