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Standard Chartered ( (GB:STAN) ) has issued an announcement.
Standard Chartered PLC announced the purchase of 10,559 of its ordinary shares as part of a share buy-back program. The shares were bought at prices ranging from 1,104.5 to 1,122.5 GB pence, with a volume-weighted average price of 1,113.9613 GB pence. The company plans to cancel the purchased shares, reducing the total number of shares in issue to 2,358,707,518. This move is part of a strategic effort to optimize capital structure and enhance shareholder value.
The most recent analyst rating on (GB:STAN) stock is a Hold with a £8.15 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 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, with a strong presence in Asia, Africa, and the Middle East. The company provides a wide range of financial products and services, including personal and corporate banking, wealth management, and investment services, focusing on emerging markets.
Average Trading Volume: 8,259,709
Technical Sentiment Signal: Buy
Current Market Cap: £25.01B
For detailed information about STAN stock, go to TipRanks’ Stock Analysis page.