Standard Chartered Advances Share Buy-Back with Recent Purchase

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

Standard Chartered PLC has announced the purchase of 763,000 of its ordinary shares as part of its ongoing share buy-back program. The shares were bought at prices ranging from 1,128.5 to 1,152.5 GB pence, with a volume-weighted average price of 1,143.9306 GB pence. The company plans to cancel these shares, reducing the total number of shares in issue to 2,340,256,635, which will also be the new total number of voting rights. This move is part of Standard Chartered’s strategy to manage its capital structure and return value to shareholders.

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 solid financial performance and strategic capital management are key strengths. The attractive valuation and ongoing share buy-back initiatives further bolster its investment appeal, despite challenges in cash flow and external uncertainties.

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 operating in Asia, Africa, and the Middle East. The company offers a wide range of financial products and services, including personal banking, corporate banking, and wealth management, with a strong focus on emerging markets.

YTD Price Performance: 18.02%

Average Trading Volume: 7,139,063

Technical Sentiment Signal: Buy

Current Market Cap: £26.61B

Find detailed analytics on STAN stock on TipRanks’ Stock Analysis page.