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Standard Chartered ( (GB:STAN) ) just unveiled an announcement.
Standard Chartered PLC announced the purchase of 483,065 of its ordinary shares as part of a share buy-back program. The shares were bought at prices ranging from 1,597.50 to 1,612.50 pence, with the intention to cancel them, reducing the total number of shares in issue to 2,281,584,441. This move is part of Standard Chartered’s strategy to manage its capital structure and enhance shareholder value.
The most recent analyst rating on (GB:STAN) stock is a Buy with a £1793.00 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, particularly in revenue growth and balance sheet strength, is complemented by positive earnings call insights. Technical indicators show bullish momentum, though caution is advised due to overbought signals. Valuation is reasonable, but the dividend yield is less attractive. Overall, the stock presents a solid investment opportunity with some risks to monitor.
To see Spark’s full report on GB:STAN stock, click here.
More about Standard Chartered
Standard Chartered PLC is a multinational banking and financial services company headquartered in London, United Kingdom. It operates in consumer, corporate, and institutional banking, offering services such as loans, credit cards, and wealth management. The company has a strong presence in Asia, Africa, and the Middle East, focusing on emerging markets.
Average Trading Volume: 5,013,141
Technical Sentiment Signal: Buy
Current Market Cap: £36.13B
Learn more about STAN stock on TipRanks’ Stock Analysis page.