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Standard Chartered ( (GB:STAN) ) has provided an announcement.
Standard Chartered PLC announced the purchase of 760,500 of its ordinary shares as part of its ongoing share buy-back program. The shares were bought at a volume-weighted average price of 1,289.0581 GB pence, with the intention of cancellation, reducing the total number of shares in issue to 2,326,150,982. 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 Buy with a £950.00 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 overall score is driven by strong technical analysis and earnings call performance, despite concerns in valuation and cash flow. The share buyback program further enhances shareholder confidence.
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 offers a range of services including personal and business banking, wealth management, and corporate finance. The company primarily focuses on markets in Asia, Africa, and the Middle East.
Average Trading Volume: 5,924,796
Technical Sentiment Signal: Buy
Current Market Cap: £28.88B
For an in-depth examination of STAN stock, go to TipRanks’ Overview page.