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The latest announcement is out from Standard Chartered ( (GB:STAN) ).
Standard Chartered PLC announced the repurchase of 1,170,027 of its ordinary shares as part of its ongoing share buy-back program. The shares were purchased at a volume weighted average price of 1,143.4312 GB pence, and the company plans to cancel these shares, reducing the total number of shares in issue to 2,355,194,578. This buy-back is part of a strategic move to optimize the company’s capital structure and enhance shareholder value.
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.
Standard Chartered’s overall stock score is supported by strong financial growth, strategic initiatives like share buybacks, and an attractive valuation. However, challenges such as declining cash flows and mixed technical indicators temper its overall attractiveness. The positive earnings call and corporate events further bolster the stock’s outlook.
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 range of products and services including personal banking, corporate banking, wealth management, and investment services, with a strong focus on emerging markets.
YTD Price Performance: 18.59%
Average Trading Volume: 8,433,986
Technical Sentiment Signal: Buy
Current Market Cap: £26.92B
Find detailed analytics on STAN stock on TipRanks’ Stock Analysis page.