Standard Chartered Advances Share Buy-back Program with Latest Purchase

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

Standard Chartered PLC announced the repurchase of 570,655 of its ordinary shares as part of its ongoing share buy-back program. The shares were purchased at a volume-weighted average price of 1,699.71 pence per share, with the intention to cancel them, reducing the total number of shares in issue to 2,272,879,491. 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 £1880.00 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 financial performance, particularly in revenue growth and balance sheet strength, is complemented by positive earnings call insights. Technical indicators show bullish momentum, though caution is advised due to overbought signals. Valuation is reasonable, but the dividend yield is less attractive. Overall, the stock presents a solid investment opportunity with some risks to monitor.

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 such as personal banking, corporate banking, wealth management, and trade finance. The company operates across various markets, with a strong presence in Asia, Africa, and the Middle East.

Average Trading Volume: 4,869,674

Technical Sentiment Signal: Buy

Current Market Cap: £38.2B

For a thorough assessment of STAN stock, go to TipRanks’ Stock Analysis page.