Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
The latest update is out from Standard Chartered ( (GB:STAN) ).
Standard Chartered PLC announced the purchase of 1,264,289 of its ordinary shares as part of its ongoing share buy-back program. The shares were acquired at a volume-weighted average price of 1,074.4392 GB pence, with the intention to cancel them, reducing the total number of voting rights to 2,358,718,077. This move is part of a strategic effort to manage the company’s capital structure and enhance shareholder value.
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 including personal banking, corporate banking, and wealth management, catering to both individual and institutional clients.
YTD Price Performance: 9.98%
Average Trading Volume: 8,259,709
Technical Sentiment Signal: Buy
Current Market Cap: £25.01B
See more insights into STAN stock on TipRanks’ Stock Analysis page.