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The latest announcement is out from Standard Chartered ( (GB:STAN) ).
Standard Chartered PLC announced the purchase of 739,692 of its own ordinary shares as part of a share buy-back program. The shares were acquired at prices ranging from 1,186.5000 to 1,199.0000 GB pence, with a volume-weighted average price of 1,192.0393 GB pence. The company plans to cancel these shares, reducing the total number of shares in issue to 2,333,432,051, which will also be the total number of voting rights. This move is part of Standard Chartered’s strategy to manage 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.
Standard Chartered’s overall stock score is bolstered by strong technical indicators and strategic corporate events, such as share buy-backs, enhancing shareholder value. Despite robust financial performance and valuation, 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 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: 6,779,268
Technical Sentiment Signal: Buy
Current Market Cap: £27.55B
See more insights into STAN stock on TipRanks’ Stock Analysis page.