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Standard Chartered ( (GB:STAN) ) has issued an update.
Standard Chartered PLC announced the purchase of 782,000 of its ordinary shares as part of its ongoing share buy-back program. The shares were acquired at a volume-weighted average price of 1,298.2414 GB pence and will be canceled, reducing the total number of shares in issue to 2,324,625,482. This move is part of the company’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 strong financial performance and technical indicators are the primary drivers of its stock score. The company’s robust earnings growth and strategic share buy-back initiatives further bolster shareholder value. However, concerns over cash flow decline and geopolitical uncertainties pose potential risks.
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, primarily focused on providing services in the areas of personal banking, corporate banking, and wealth management. The company operates in various markets across Asia, Africa, and the Middle East, with a strong emphasis on emerging markets.
Average Trading Volume: 5,844,236
Technical Sentiment Signal: Buy
Current Market Cap: £29.6B
Find detailed analytics on STAN stock on TipRanks’ Stock Analysis page.