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Standard Chartered ( (GB:STAN) ) just unveiled an announcement.
Standard Chartered PLC announced the purchase of 720,829 of its ordinary shares as part of its ongoing share buy-back program. The shares were acquired at a volume-weighted average price of 1,209.9478 GB pence, and the company plans to cancel these shares, which will reduce the total number of shares in issue to 2,329,063,230. This move is part of Standard Chartered’s strategy to optimize 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 score is driven by strong technical indicators and an effective share buy-back strategy. Financial performance shows solid revenue growth, but cash flow challenges exist. The valuation is attractive, and earnings call sentiment is positive, despite some geopolitical risks.
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 range of products and services including personal banking, corporate banking, and wealth management, with a focus on emerging markets.
YTD Price Performance: 24.36%
Average Trading Volume: 6,209,241
Technical Sentiment Signal: Buy
Current Market Cap: £27.91B
See more data about STAN stock on TipRanks’ Stock Analysis page.