Standard Chartered Advances Share Buy-back Program

An announcement from Standard Chartered ( (GB:STAN) ) is now available.

Standard Chartered PLC announced the purchase of 570,907 of its ordinary shares as part of its ongoing share buy-back program. The shares were acquired at prices ranging from 1,679.50 to 1,705.00 pence, with a volume-weighted average price of 1,697.16 pence. This move is part of the company’s strategy to enhance shareholder value by reducing the number of shares in circulation, which will result in a total of 2,269,440,216 ordinary shares in issue after cancellation. The buy-back is conducted in compliance with pre-set parameters and applicable regulations, indicating a strategic focus on optimizing capital structure and potentially boosting share value.

The most recent analyst rating on (GB:STAN) stock is a Buy with a £1855.00 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 performance and strategic initiatives, such as share buy-backs, contribute positively to its stock score. While financial performance is solid, challenges in cash flow and operational efficiency need attention. The technical analysis supports a positive outlook, and the valuation suggests reasonable pricing.

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 offering a wide range of products and services, including retail and corporate banking, and wealth management. The company primarily focuses on markets in Asia, Africa, and the Middle East.

Average Trading Volume: 4,961,115

Technical Sentiment Signal: Buy

Current Market Cap: £37.87B

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