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The latest announcement is out from Standard Chartered ( (GB:STAN) ).
Standard Chartered PLC has executed a share buy-back program, purchasing 545,052 of its ordinary shares at an average price of 1,361.40 pence per share. The company plans to cancel these shares, reducing its total number of shares in issue to 2,304,024,720, which will impact the total voting rights accordingly. This strategic move is part of a previously announced buy-back plan, reflecting Standard Chartered’s efforts to optimize its capital structure and 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 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: 5,565,533
Technical Sentiment Signal: Buy
Current Market Cap: £31.72B
Find detailed analytics on STAN stock on TipRanks’ Stock Analysis page.