Standard Chartered Advances Share Buy-Back Program

An announcement from Standard Chartered ( (GB:STAN) ) is now available.

Standard Chartered PLC announced the purchase of 758,382 of its ordinary shares as part of its ongoing share buy-back program. The shares were acquired at prices ranging from 1,148 to 1,162 GB pence, with a volume-weighted average price of 1,154.2942 GB pence. The company plans to cancel these shares, reducing the total number of shares in issue to 2,350,188,875, which will also be the total number of voting rights. 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 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, 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, wealth management, and investment banking, catering to both individual and corporate clients.

Average Trading Volume: 8,105,393

Technical Sentiment Signal: Buy

Current Market Cap: £26.87B

For an in-depth examination of STAN stock, go to TipRanks’ Stock Analysis page.