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Standard Chartered ( (GB:STAN) ) has provided an update.
Standard Chartered PLC announced the purchase of 457,537 of its ordinary shares from Goldman Sachs International as part of its ongoing share buy-back programme. The shares were bought at prices ranging from 1,633.00 to 1,666.00 pence, with a volume-weighted average price of 1,655.37 pence. The company plans to cancel these shares, reducing its total number of shares in issue to 2,274,476,134, which will also be the total number of voting rights. This move is part of Standard Chartered’s strategy to manage its capital structure and enhance shareholder value.
The most recent analyst rating on (GB:STAN) stock is a Buy with a £176.70 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, particularly in revenue growth and balance sheet strength, is complemented by positive earnings call insights. Technical indicators show bullish momentum, though caution is advised due to overbought signals. Valuation is reasonable, but the dividend yield is less attractive. Overall, the stock presents a solid investment opportunity with some risks to monitor.
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 personal banking, corporate banking, and wealth management. The company primarily focuses on markets in Asia, Africa, and the Middle East.
Average Trading Volume: 4,753,697
Technical Sentiment Signal: Buy
Current Market Cap: £37.4B
For a thorough assessment of STAN stock, go to TipRanks’ Stock Analysis page.