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Standard Chartered ( (GB:STAN) ) just unveiled an announcement.
Standard Chartered PLC announced the purchase of 726,206 of its ordinary shares as part of its ongoing share buy-back program. The shares were acquired at a volume-weighted average price of 1,340.1369 GB pence and will be canceled, reducing the total number of shares in issue to 2,321,697,004. This move is part of Standard Chartered’s strategy to enhance shareholder value and optimize its capital structure.
The most recent analyst rating on (GB:STAN) stock is a Hold with a £8.15 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.
The overall stock score for Standard Chartered is primarily influenced by its robust technical indicators and strong earnings growth highlighted in the recent earnings call. While financial performance shows strengths, challenges in cash flow and operational efficiency weigh slightly on the score.
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, offering a wide range of financial services and products. The company operates primarily in Asia, Africa, and the Middle East, focusing on corporate and institutional banking, retail banking, and wealth management.
YTD Price Performance: 38.01%
Average Trading Volume: 5,837,048
Technical Sentiment Signal: Buy
Current Market Cap: £30.87B
For an in-depth examination of STAN stock, go to TipRanks’ Overview page.