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Standard Chartered ( (GB:STAN) ) has provided an announcement.
Standard Chartered PLC announced the purchase of 724,741 of its ordinary shares as part of a share buy-back program, with the shares bought at an average price of 1,227.0350 GB pence. The company plans to cancel these shares, which will reduce the total number of shares in issue to 2,328,338,489, aligning with its strategic financial management objectives and potentially impacting shareholder value positively.
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 score is driven by strong technical indicators and an effective share buy-back strategy. Financial performance shows solid revenue growth, but cash flow challenges exist. The valuation is attractive, and earnings call sentiment is positive, despite some geopolitical risks.
To see Spark’s full report on GB:STAN stock, click here.
More about Standard Chartered
Standard Chartered PLC is a prominent financial services company operating in the banking industry. It offers a wide range of financial products and services, including retail and corporate banking, wealth management, and investment services, with a significant focus on emerging markets.
Average Trading Volume: 6,209,241
Technical Sentiment Signal: Buy
Current Market Cap: £27.91B
See more data about STAN stock on TipRanks’ Stock Analysis page.