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An update from Standard Chartered ( (GB:STAN) ) is now available.
Standard Chartered PLC announced the repurchase of 517,832 of its ordinary shares as part of a share buy-back program. The shares were purchased at a volume-weighted average price of 1,425.67 pence, with the transaction executed across multiple trading venues. The company plans to cancel these shares, reducing the total number of shares in issue to 2,300,304,133. This move is part of Standard Chartered’s strategy to optimize its capital structure and enhance shareholder value.
The most recent analyst rating on (GB:STAN) stock is a Buy with a £16.70 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 multinational banking and financial services company. It offers a wide range of products and services including personal banking, corporate banking, wealth management, and investment services. The company primarily focuses on markets in Asia, Africa, and the Middle East.
YTD Price Performance: 48.79%
Average Trading Volume: 5,394,879
Technical Sentiment Signal: Buy
Current Market Cap: £32.98B
For detailed information about STAN stock, go to TipRanks’ Stock Analysis page.