Standard Chartered (LON:STAN) Stock Price Passes Above 200 Day Moving Average of $649.98

Standard Chartered PLC (LON:STAN)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 649.98 ($8.03) and traded as high as GBX 690.40 ($8.53). Standard Chartered shares last traded at GBX 682.80 ($8.43), with a volume of 5,475,316 shares traded.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Berenberg Bank raised their price target on Standard Chartered from GBX 1,000 ($12.35) to GBX 1,050 ($12.97) and gave the company a “buy” rating in a research note on Friday, February 23rd. Keefe, Bruyette & Woods upgraded Standard Chartered to a “market perform” rating and set a GBX 790 ($9.76) price target on the stock in a research note on Monday, February 12th. Jefferies Financial Group restated a “buy” rating and issued a GBX 1,300 ($16.06) price target on shares of Standard Chartered in a research note on Thursday, April 18th. JPMorgan Chase & Co. raised their price target on Standard Chartered from GBX 850 ($10.50) to GBX 900 ($11.12) and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, Shore Capital restated a “buy” rating on shares of Standard Chartered in a research note on Friday, February 23rd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 964.67 ($11.92).

Standard Chartered Trading Down 0.2 %

The company has a 50 day moving average price of GBX 663.97 and a 200 day moving average price of GBX 649.58. The firm has a market cap of £17.85 billion, a PE ratio of 811.19, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87.

Standard Chartered Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, May 17th. Investors of record on Thursday, March 7th will be given a dividend of $0.21 per share. This is an increase from Standard Chartered’s previous dividend of $0.06. This represents a dividend yield of 2.74%. The ex-dividend date of this dividend is Thursday, March 7th. Standard Chartered’s payout ratio is currently 2,500.00%.

Insider Buying and Selling

In related news, insider Bill Winters sold 40,432 shares of Standard Chartered stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of GBX 655 ($8.09), for a total transaction of £264,829.60 ($327,111.66). Insiders own 0.31% of the company’s stock.

About Standard Chartered

Standard Chartered PLC, together with its subsidiaries, provides various banking products and services in Asia, Africa, the Middle East, Europe, and the Americas. The company operates in three segments: Corporate, Commercial & Institutional Banking; Consumer, Private & Business Banking; and Ventures.