Standard Chartered Advances Share Buy-back Program

Standard Chartered ( (GB:STAN) ) just unveiled an announcement.

Standard Chartered PLC announced the repurchase of 769,746 ordinary shares as part of its ongoing share buy-back program. The shares were acquired at a volume-weighted average price of 1,166.7388 GB pence per share. This move is part of the company’s strategy to enhance shareholder value by reducing the number of shares in circulation, thereby increasing the value of remaining shares. Following the cancellation of these shares, the total number of voting rights in the company will be 2,341,780,721. This action underscores Standard Chartered’s commitment to optimizing its capital structure and returning 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.

The overall score is driven by strong valuation and technical indicators, supported by solid earnings performance despite some financial and geopolitical challenges.

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 is known for its extensive network and expertise in emerging markets, offering a range of services including retail banking, corporate banking, and wealth management.

Average Trading Volume: 7,238,659

Technical Sentiment Signal: Buy

Current Market Cap: £26.7B

Find detailed analytics on STAN stock on TipRanks’ Stock Analysis page.