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Standard Chartered ( (GB:STAN) ) has issued an announcement.
Standard Chartered PLC has executed a share buy-back program, purchasing 521,631 of its ordinary shares from Goldman Sachs International. The shares were bought at a volume-weighted average price of 1,389.68 pence per share, with the intention to cancel them, reducing the total number of shares in issue to 2,307,248,032. This move is part of the company’s strategy to enhance shareholder value and optimize its capital structure, adhering to pre-set parameters and regulatory requirements.
The most recent analyst rating on (GB:STAN) stock is a Buy with a £1508.00 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 strong earnings call performance and attractive valuation are key strengths. Financial performance is solid but challenged by declining cash flows. Technical indicators show a positive trend, supporting the overall score.
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, and wealth management, catering to a diverse client base in emerging markets.
Average Trading Volume: 5,641,673
Technical Sentiment Signal: Buy
Current Market Cap: £32.68B
See more insights into STAN stock on TipRanks’ Stock Analysis page.