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The latest announcement is out from Standard Chartered ( (GB:STAN) ).
Standard Chartered PLC announced the repurchase of 537,395 of its ordinary shares as part of a share buy-back program. The shares were purchased from Goldman Sachs International at a volume-weighted average price of 1,379.88 pence per share. The company intends to cancel these shares, reducing the total number of shares in issue to 2,306,178,170, which will also be the total number of voting rights. This move is part of Standard Chartered’s strategy to optimize its capital structure and potentially enhance shareholder value.
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 engaged in providing financial services and products. It operates across Asia, Africa, and the Middle East, focusing on corporate, commercial, and institutional banking, as well as retail banking and wealth management.
Average Trading Volume: 5,690,745
Technical Sentiment Signal: Buy
Current Market Cap: £32.12B
For detailed information about STAN stock, go to TipRanks’ Stock Analysis page.