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Standard Chartered ( (GB:STAN) ) just unveiled an announcement.
Standard Chartered PLC announced the purchase of 517,062 of its ordinary shares as part of its ongoing share buy-back program. The shares were acquired from Goldman Sachs International at a volume-weighted average price of 1,420.68 pence per share. This move is part of the company’s strategy to manage its capital structure efficiently. Following the cancellation of these shares, the total number of voting rights in the company will be reduced to 2,298,245,826, potentially impacting shareholder value and market perception.
The most recent analyst rating on (GB:STAN) stock is a Buy with a £16.70 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 multinational banking and financial services company headquartered in London, England. It operates a network of more than 1,200 branches and outlets across more than 70 countries, offering services in personal, corporate, and institutional banking, as well as treasury services. The company focuses on emerging markets in Asia, Africa, and the Middle East.
Average Trading Volume: 5,328,585
Technical Sentiment Signal: Buy
Current Market Cap: £32.52B
See more data about STAN stock on TipRanks’ Stock Analysis page.