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The latest announcement is out from Standard Chartered ( (GB:STAN) ).
Standard Chartered PLC announced the purchase of 522,732 of its own ordinary shares as part of a share buy-back program. The shares were bought at prices ranging from 1,401.00 to 1,412.00 pence, with a volume-weighted average price of 1,405.41 pence. This move, which involves a total expenditure of over $90 million, is aimed at reducing the number of shares in circulation, thereby potentially increasing the value of remaining shares and enhancing shareholder value. The cancellation of these shares will result in a new total of 2,310,661,504 ordinary shares in issue, aligning with the company’s strategic financial management goals.
The most recent analyst rating on (GB:STAN) stock is a Hold with a £82.80 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 solid earnings performance are the main drivers of its high score. The low P/E ratio suggests undervaluation, while challenges in cash flow and operational efficiency slightly temper the outlook.
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 operates in consumer, corporate, and institutional banking, and provides services such as wealth management, trade finance, and treasury solutions. The company has a significant presence in Asia, Africa, and the Middle East, focusing on emerging markets.
Average Trading Volume: 5,556,515
Technical Sentiment Signal: Buy
Current Market Cap: £32.92B
For detailed information about STAN stock, go to TipRanks’ Stock Analysis page.