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Standard Chartered ( (GB:STAN) ) has issued an announcement.
Standard Chartered PLC announced the purchase of 738,690 of its ordinary shares as part of its ongoing share buy-back program. The shares were acquired at prices ranging from 1,185 to 1,217 GB pence, with the intention to cancel them, reducing the total number of shares and voting rights in the company to 2,330,517,487. This move is part of a strategic effort to enhance shareholder value and optimize the company’s capital structure.
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 strong financial performance, attractive valuation, and positive technical indicators are major strengths. The ongoing share buy-back program further supports shareholder value. However, challenges in cash flow, net interest income, and geopolitical uncertainties represent risks that require attention.
To see Spark’s full report on GB:STAN stock, click here.
More about Standard Chartered
Standard Chartered PLC is a multinational banking and financial services company. It offers a wide range of products and services, including personal banking, corporate banking, wealth management, and investment services, with a strong focus on emerging markets.
Average Trading Volume: 6,538,827
Technical Sentiment Signal: Buy
Current Market Cap: £27.36B
For detailed information about STAN stock, go to TipRanks’ Stock Analysis page.