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Standard Chartered ( (GB:STAN) ) has provided an announcement.
Standard Chartered PLC announced the repurchase of 547,290 of its ordinary shares as part of its ongoing share buy-back program. The shares were purchased at a volume-weighted average price of 1,360.21 pence per share, with the intention to cancel them, reducing the total number of shares in issue to 2,307,920,481. This move is part of the company’s strategy to optimize its capital structure and enhance shareholder value.
The most recent analyst rating on (GB:STAN) stock is a Buy with a £1508.00 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 earnings call performance and attractive valuation are key strengths. Financial performance is solid but challenged by declining cash flows. Technical indicators show a positive trend, supporting the overall score.
To see Spark’s full report on GB:STAN stock, click here.
More about Standard Chartered
Standard Chartered PLC is a prominent financial services company operating in the banking industry. It primarily offers a wide range of banking products and services, including personal, corporate, and institutional banking, with a strong market focus on Asia, Africa, and the Middle East.
Average Trading Volume: 5,704,626
Technical Sentiment Signal: Buy
Current Market Cap: £31B
See more insights into STAN stock on TipRanks’ Stock Analysis page.