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The latest announcement is out from Standard Chartered ( (GB:STAN) ).
Standard Chartered PLC announced the purchase of 771,258 of its ordinary shares as part of a share buy-back program initiated earlier in the year. The shares were acquired at prices ranging from 1,116.0000 to 1,146.5000 GB pence, with a volume-weighted average price of 1,137.6630 GB pence. The company plans to cancel these shares, reducing the total number of shares in issue to 2,346,346,241, which will also be the total number of voting rights. This buy-back is part of the company’s strategy to manage its capital structure and return value to shareholders.
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. It operates in various markets with a significant presence in Asia, Africa, and the Middle East, offering services such as personal and corporate banking, wealth management, and trade finance.
Average Trading Volume: 7,602,519
Technical Sentiment Signal: Buy
Current Market Cap: £26.59B
See more data about STAN stock on TipRanks’ Stock Analysis page.
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