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An update from Standard Chartered ( (GB:STAN) ) is now available.
Standard Chartered PLC announced the purchase of 538,161 of its ordinary shares as part of a share buy-back program. The shares were bought at a volume-weighted average price of 1,373.50 pence per share, with the transaction involving multiple trading venues including the London Stock Exchange. The company plans to cancel the purchased shares, reducing the total number of shares in issue to 2,305,640,009, which will also be the total number of voting rights. This move is part of the company’s strategy to enhance shareholder value and optimize its capital structure.
The most recent analyst rating on (GB:STAN) stock is a Buy with a £1508.00 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 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. It offers a wide range of products and services including retail banking, corporate banking, and wealth management, with a strong focus on emerging markets in Asia, Africa, and the Middle East.
YTD Price Performance: 43.76%
Average Trading Volume: 5,614,578
Technical Sentiment Signal: Buy
Current Market Cap: £31.94B
Find detailed analytics on STAN stock on TipRanks’ Stock Analysis page.