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Standard Chartered ( (GB:STAN) ) has shared an update.
Standard Chartered PLC announced the repurchase of 733,828 of its ordinary shares as part of its ongoing share buy-back programme. The shares were acquired at prices ranging from 1,302.2500 to 1,317.5000 GB pence, with a volume-weighted average price of 1,311.3457 GB pence. The company plans to cancel these shares, reducing the total number of shares in issue to 2,323,161,654, which will also be the total number of voting rights. This move is part of the company’s strategy to manage its 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 strong technical momentum and strategic capital management through share buy-backs are key strengths. Financial performance is solid, but cash flow challenges and geopolitical risks need monitoring.
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 banking services in Asia, Africa, and the Middle East. The company offers a wide range of financial products and services, including retail and corporate banking, wealth management, and treasury services.
Average Trading Volume: 5,857,704
Technical Sentiment Signal: Buy
Current Market Cap: £30.34B
For a thorough assessment of STAN stock, go to TipRanks’ Stock Analysis page.