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An announcement from Standard Chartered ( (GB:STAN) ) is now available.
Standard Chartered PLC announced the purchase of 726,200 of its own ordinary shares as part of a share buy-back program. The shares were bought at prices ranging from 1,342.0000 to 1,366.0000 GB pence, with an average price of 1,357.2699 GB pence. The company plans to cancel these shares, reducing its total number of shares in issue to 2,316,663,492, which will also be the total number of voting rights. This move is part of a strategic effort to manage its capital structure and potentially 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 shows strong financial performance and technical momentum, supported by strategic corporate actions like share buy-backs. However, challenges in cash flows, operational efficiency, and external geopolitical risks create potential headwinds.
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 products and services including personal banking, corporate banking, and wealth management, primarily focusing on emerging markets in Asia, Africa, and the Middle East.
Average Trading Volume: 5,936,316
Technical Sentiment Signal: Buy
Current Market Cap: £30.7B
See more data about STAN stock on TipRanks’ Stock Analysis page.