Standard Chartered Advances Share Buy-back Programme

Standard Chartered ( (GB:STAN) ) has shared an update.

Standard Chartered PLC announced the repurchase of 738,978 of its ordinary shares as part of its ongoing share buy-back programme. The shares were purchased at a volume-weighted average price of 1,183.2243 GB pence per share, with the intention to cancel them, reducing the total number of shares in issue to 2,343,295,263. 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 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 strong financial performance and robust technical indicators are offset by challenges in cash flow and geopolitical uncertainties. The share buy-back strategy and low P/E ratio support a positive outlook, while the consistent share buy-backs enhance shareholder value.

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, providing a wide range of financial products and services. The company operates primarily in Asia, Africa, and the Middle East, focusing on corporate and institutional banking, retail banking, and wealth management.

Average Trading Volume: 7,397,288

Technical Sentiment Signal: Buy

Current Market Cap: £27.6B

See more data about STAN stock on TipRanks’ Stock Analysis page.