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Standard Chartered ( (GB:STAN) ) has issued an update.
Standard Chartered PLC announced the purchase of 525,512 of its ordinary shares as part of its ongoing share buy-back programme. The shares were acquired at prices ranging from 1,412.00 to 1,450.00 pence, with a volume-weighted average price of 1,439.85 pence. The company plans to cancel these shares, reducing the total number of shares in issue to 2,295,151,269. This move is part of Standard Chartered’s strategy to manage its capital structure and enhance shareholder value.
The most recent analyst rating on (GB:STAN) stock is a Hold with a £15.25 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, offering a wide range of financial products and services. The company operates primarily in Asia, Africa, and the Middle East, focusing on retail, corporate, and institutional banking.
YTD Price Performance: 50.29%
Average Trading Volume: 5,296,278
Technical Sentiment Signal: Buy
Current Market Cap: £33.24B
For an in-depth examination of STAN stock, go to TipRanks’ Overview page.