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Standard Chartered ( (GB:STAN) ) has issued an announcement.
Standard Chartered PLC has announced the purchase of 474,247 of its own ordinary shares as part of a share buy-back program. The shares were acquired at an average price of 1,601.43 pence each, with the intention to cancel them, thereby reducing the total number of shares in circulation to 2,281,110,194. This move is part of the company’s strategy to manage its capital structure and enhance shareholder value. The buy-back is conducted under pre-set parameters and in compliance with applicable laws and regulations.
The most recent analyst rating on (GB:STAN) stock is a Hold with a £1700.00 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 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 headquartered in London, England. It operates a network of over 1,200 branches and outlets across more than 70 countries, offering products and services such as personal banking, corporate banking, wealth management, and treasury services. The company focuses on emerging markets in Asia, Africa, and the Middle East.
YTD Price Performance: 65.96%
Average Trading Volume: 5,059,857
Technical Sentiment Signal: Buy
Current Market Cap: £36.48B
Learn more about STAN stock on TipRanks’ Stock Analysis page.