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Standard Chartered ( (GB:STAN) ) has provided an announcement.
Standard Chartered PLC announced the repurchase of 737,040 of its ordinary shares as part of its ongoing share buy-back program. The shares were acquired at a volume-weighted average price of 1,187.8649 GB pence per share. Following the cancellation of these shares, the total number of voting rights in the company will be 2,334,171,743. This move is part of Standard Chartered’s strategy to optimize its capital structure and enhance shareholder value.
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.
The overall score reflects strong financial performance and technical momentum, with a robust valuation profile. Challenges in cash flow and geopolitical risks are moderated by strategic corporate actions like share buy-backs, enhancing shareholder value.
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 across Asia, Africa, and the Middle East. The company offers a wide range of services including personal banking, corporate banking, wealth management, and investment services, catering to a diverse clientele in emerging markets.
Average Trading Volume: 6,812,830
Technical Sentiment Signal: Buy
Current Market Cap: £27.55B
See more data about STAN stock on TipRanks’ Stock Analysis page.