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An update from Standard Chartered ( (GB:STAN) ) is now available.
Standard Chartered PLC announced the purchase of 532,467 of its ordinary shares as part of a share buy-back program. The shares were acquired at a volume-weighted average price of 1,380.88 pence per share, with the intention to cancel them, reducing the total number of shares in issue to 2,306,715,565. This move is part of the company’s strategy to enhance shareholder value by reducing the number of shares outstanding, potentially increasing earnings per share and improving market perception.
The most recent analyst rating on (GB:STAN) stock is a Buy with a £1508.00 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 earnings call performance and attractive valuation are key strengths. Financial performance is solid but challenged by declining cash flows. Technical indicators show a positive trend, supporting the overall score.
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 financial services and products in Asia, Africa, and the Middle East. The company offers a wide range of services including retail banking, corporate banking, and wealth management, catering to both individual and institutional clients.
Average Trading Volume: 5,697,192
Technical Sentiment Signal: Buy
Current Market Cap: £32.12B
For detailed information about STAN stock, go to TipRanks’ Stock Analysis page.