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Standard Chartered ( (GB:STAN) ) just unveiled an announcement.
Standard Chartered PLC has executed a share buy-back program, purchasing 546,705 of its ordinary shares at prices ranging from 1,354.50 to 1,371.00 pence per share. This move, involving a total expenditure of over $222 million, aims to reduce the number of shares in circulation, thereby potentially increasing shareholder value and enhancing the company’s financial metrics. The cancellation of these shares will result in a new total of 2,303,478,015 ordinary shares in issue, aligning with regulatory requirements and strategic financial management.
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. The company operates in various markets worldwide, with a particular emphasis on Asia, Africa, and the Middle East.
Average Trading Volume: 5,543,733
Technical Sentiment Signal: Buy
Current Market Cap: £31.54B
See more data about STAN stock on TipRanks’ Stock Analysis page.