Standard Chartered Advances Share Buy-back Program with Recent Purchase

The latest update is out from Standard Chartered ( (GB:STAN) ).

Standard Chartered PLC announced the purchase of 775,661 of its ordinary shares as part of its ongoing share buy-back program. The shares were bought at a volume-weighted average price of 1,161.9556 GB pence, with the intention to cancel them, reducing the total number of shares in issue to 2,348,649,967. This move is part of a strategic effort to manage the company’s capital structure and enhance shareholder value by reducing the number of shares outstanding, which could potentially increase earnings per share and market confidence.

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 leading international banking group, primarily focused on providing financial services and products. The company operates across various markets, with a significant presence in Asia, Africa, and the Middle East, offering services such as personal banking, corporate banking, and wealth management.

Average Trading Volume: 7,786,541

Technical Sentiment Signal: Buy

Current Market Cap: £27.03B

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