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Standard Chartered ( (GB:STAN) ) has provided an update.
Standard Chartered PLC announced the purchase of 519,470 of its ordinary shares as part of a share buy-back program, with prices ranging from 1,400.00 to 1,431.00 pence per share. The company plans to cancel these shares, reducing the total number of shares in issue to 2,311,184,236, which will impact the total number of voting rights and potentially enhance shareholder value.
The most recent analyst rating on (GB:STAN) stock is a Hold with a £82.80 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 strategic initiatives, including share buybacks, are key strengths. However, operational efficiency challenges and overbought technical indicators present risks.
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, offering a range of financial services including personal banking, corporate banking, and wealth management. The company operates in key markets across Asia, Africa, and the Middle East, focusing on providing innovative financial solutions to its diverse clientele.
Average Trading Volume: 5,556,515
Technical Sentiment Signal: Buy
Current Market Cap: £32.92B
For an in-depth examination of STAN stock, go to TipRanks’ Overview page.