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The latest update is out from Standard Chartered ( (GB:STAN) ).
Standard Chartered PLC has announced the repurchase of 549,854 of its ordinary shares as part of its ongoing share buy-back program. The shares were purchased from Goldman Sachs International at prices ranging from 1,726.50 to 1,759.50 pence, with a volume-weighted average price of 1,745.34 pence. This transaction is part of the company’s strategy to optimize its capital structure and enhance shareholder value. Following the cancellation of these shares, Standard Chartered will have 2,268,332,142 ordinary shares in issue, maintaining the same number of voting rights. The buy-back is conducted under specific regulatory guidelines and is part of a previously announced plan.
The most recent analyst rating on (GB:STAN) stock is a Buy with a £1965.00 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 leading international banking group, primarily focused on providing financial services and products across Asia, Africa, and the Middle East. The company offers a wide range of services, including personal banking, corporate banking, wealth management, and investment services, catering to a diverse client base in emerging markets.
YTD Price Performance: 79.13%
Average Trading Volume: 5,058,804
Technical Sentiment Signal: Buy
Current Market Cap: £39.15B
For an in-depth examination of STAN stock, go to TipRanks’ Overview page.