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On the move again. Has lagged behind other banks in recent months. Break and hold above £7 would be a good start.
A very complex business for a Takeover ...which is why First Abu Dhabi Bank walked away ..
however the CEO did talk about making things less complex and reducing costs/income ratio
" Betaville said readers should be aware that some of the takeover speculation surrounding Standard Chartered has been priced into the stock as the company's shares have risen 15% over the last month."
https://www.sharecast.com/news/news-and-announcements/standard-chartered-attracting-more-takeover-interest---report--16380265.html
Takeover rumours. This could really pop if there is any substance to the rumour.
Standard Chartered is often subject to bid rumours. If a big US bank wanted to have a footprint across Asian markets, they could buy Standard Chartered and even its chief executive officer (CEO) admits that its share price has been crap
Hello Kitty says Hodl.
Please do your own research as always and always follow FCA guidelines
Big moves last few weeks. Plenty more to come
"$5 billion profit each year "
that is pre tax ...
2022 - post tax profit of $2.547 billion for Ordinary shareholders
2023 - post tax profit of $3.017 billion for Ordinary shareholders
Since 1 Jan 2019 $6 billion of share capital has been bought back. I know many think share buy backs are a waist of money but buying back shares at these low prices really makes sennse. In time the share price will go up.
$5 billion profit each year is now being divided up amongst fewer shareholders. The P/E ratio is 6.5 or so. Something eventually will have to give.
I am optimistic. If I had to buy 1 FTSE share to hold for 2 to 6 years this would be it. Given that $1 billion is being bought back and a furthet $1 billion second half. I do expect the share price to increase this year. 14.1% tier 1 ratio is better than expected. Bil Winters is creating a real cash machine here. With the massive share buy backs and the continued good results sooner or later the share price will shoot up. I am not selling my shares for less than £10. I may be the last man standing.
STAN 26/2/24
Berenberg upped its price target on 'buy' rated Standard Chartered on Monday to 1,050p from 1,000p as it said that growth and returns are undervalued. Berenberg said the 2023 results last week "provided clear confirmation that recent improvements in the bank's returns can be sustained".
"Importantly, revenues and net interest income (NII) can grow even as interest rates fall. The bank's commitment for FY 2026 expenses to be below USD12bn also provides an antidote to investors' concerns about cost control," it said. "Our underlying EPS for Standard Chartered increases by 2-3%," Berenberg said, adding that reductions to its statutory earnings instead reflect planned restructuring costs.
May take some time to get that high !
That's more like it. Looks like results have gone down well. Increaseed Share buyback and
divi... And Im liking the rhetoric from the management clearly unhappy with the sp performance. Looking good here again
" Our share price is crap, says Standard Chartered boss "
Straight and to the point !!
https://www.thetimes.co.uk/article/our-share-price-is-crap-says-standard-chartered-boss-xxcqstzmm
Proposed final dividend of $560m or 21c per share will result in a full-year dividend of $728m or 27c, up 50%
Ex-dividend date 7 (UK) 6 (HK) March 2024
Record date for dividend 8 March 2024
Last date to amend currency election instructions for cash dividend* 23 April 2024
Dividend payment date 17 May 2024
Sorry for my info later
Well they have given what the shareholders were looking for , and the writedown in the Bohai stake was smaller than anticipated , and may now have bottomed out ...which is what HSBA were suggesting
Still questions about potential break up of divisions and the road to greater profitability .. but.. it was definitely over sold on bearish worries ...so..pleasing to see that shown and an uptick out of that
Asia definitely has good potential to come good 2025-6
Decent set of results. Nice to see such a big jump in the divi.
"I am acutely aware of the underperformance of our share price in recent months, which I believe does not reflect the progress we are making. " Dr José Viñals (Chairman)
So are we...is this the point of inflection? Just maybe
Chief executive Bill Winters said the bank’s share price reflects ‘little of our optimism’
“Our share price reflects little of our optimism about prospects and seems heavily influenced by . . . downside concerns”, he said. “The concerns are real, and we take them seriously.”
Standard Winters voiced confidence about the outlook for Asia despite the bank having taken impairment charges on the value of its stake in China Bohai Bank, a mainland lender.
It reported a $153mn charge on its Bohai stake in the fourth quarter, in addition to a $700mn charge in November.
“Whilst we expect global growth to stay below potential at 2.9 per cent in 2024, as high interest rates put a drag on consumers as well as investment spending, Asia is likely to be the fastest-growing region continuing to drive global growth, expanding by 4.9 per cent”, he said.
He added, however, that “a sluggish housing market in China” posed a risk.
The bank’s return on tangible equity, a key measure of profitability, was 10.1 per cent for 2023, up two percentage points from a year earlier and beating analysts’ expectations of 9.5 per cent. StanChart said it was targeting an increase to 12 per cent by 2026.
Net interest income rose 6 per cent to $2.4bn for the fourth quarter, in line with analysts’ forecasts, as the bank benefited from higher interest rates. The bank said it expected the figure to rise in 2024.
https://www.ft.com/content/7bb64fbe-8746-4f4c-bf1d-d0a8a8aea387
Standard Chartered on Friday reported 2023 pre-tax profit rose 18%, in line with forecasts, and rewarded shareholders with a $1 billion share buyback and a jump in dividend.
StanChart , which earns most of its revenue in Asia, said statutory pretax profit for 2023 reached $5.09 billion, in line with $5.1 billion from 15 analyst estimates compiled by the bank.
The bank took a $850 million impairment mainly from its stake in Chinese lender Bohai Bank, its second time writing down the value of the unit as the lender was hit by increasing bad loans as growth in the world’s second-largest economy sputtered.
The hefty loss in China, a core target for StanChart’s strategy, underlines the challenge it faces to expand in the country as policymakers struggle to arrest a deepening property crisis and weak consumer confidence.
https://www.cnbc.com/2024/02/23/stanchart-announces-1-billion-share-buyback-as-full-year-profit-rises-18percent.html
HSBC Results today -
"$3bn charge linked to the lender’s stake in the Bank of Communications in China, where lenders are struggling with a downturn in the country’s real estate market.
That was despite CEO Quinn having suggested last quarter that China had experienced the worst of the crisis.
“I did say last quarter that I thought the market had bottomed. I still believe that,” he told a press briefing on Wednesday morning. “I also said last quarter that it will take a few years for the market to work its way through the current challenges. So I didn’t say challenges were over.
“But I did believe the activity levels in the commercial real estate market, the valuations in the commercial real estate market in mainland China had bottomed, and that what I saw was a progressive and gradual recovery in the market.”
“Indeed, in the group’s own outlook, HSBC is forecasting slow growth for the first half of the year, followed by a gradual recovery, while inevitably the parlous state of the Chinese economy in general and the real estate sector in particular are ominous headwinds.”
Actually looking back the bid would have been £25bn-£29bn in Feb/Apr last year based on dollar exchange rate 66%~93% higher than todays rates.
Okay, china has deteriorated but with government throwing liquidity into the system hopefully todays price is still attractive
Aren’t we surely a takeover target at this level?
Bid considered at £7 plus less than a year ago. I wouldn’t be surprised to see news on this soon.
Standard Chartered Plc is considering restructuring its institutional banking arm, the unit that houses the firm’s investment bankers and traders, as part of the latest effort by Chief Executive Officer Bill Winters to improve the lender’s returns.
The lender has been weighing options including separating its investment bank from its corporate and commercial banking operations, according to people familiar with the matter.
The move could lead to job cuts and is one of several possibilities being weighed with no final decisions made yet, the people said, asking not to be identified discussing matters still under consideration.
A spokesman for Standard Chartered declined to comment.
https://www.bloomberg.com/news/articles/2024-02-13/standard-chartered-weighs-breaking-up-corporate-investment-bank
Standard Char. goes ex 6c dividend 22 Feb. so they could well rise approaching.
Also they might recover in share price after they have appointed a replacement Chairman. They are intent on boosting the share price. It's unusual in today's market conditions for the share price to be below £6.
https://www.dividendmax.com/united-kingdom/london-stock-exchange/banks/standard-chartered-plc/dividends
https://finance.yahoo.com/news/javid-running-chairman-standard-chartered-143515450.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuYmluZy5jb20v&guce_referrer_sig=AQAAAKie7lVMKWevogkPROBR3Nipdqdx_tvsFskJT1AzKULogDO-uLeWAhOlATx024HxeuPYvg3UIOBkmCaoon9MppKxg3SbWYxQqYJu-Jy0mSyfG_HWgIUlwfkKIXf9L5y-qUeSplmDS8lSxDqf_KHue04OfXWv2GT7MKlM8vl_lBTz
It is cheap on many metrics , but I suspect the market is watching for any further credit impairments including China CRE
Battered in recent months... Watching for a re-entry here