Standard Chartered (LON:STAN) Hits New 52-Week High – Here’s What Happened

Shares of Standard Chartered PLC (LON:STAN) reached a new 52-week high during mid-day trading on Monday . The company traded as high as GBX 128.85 ($1.75) and last traded at GBX 1,179.38 ($15.98), with a volume of 3806231 shares trading hands. The stock had previously closed at GBX 1,149.28 ($15.57).

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on STAN shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a GBX 970 ($13.14) target price on shares of Standard Chartered in a research note on Monday, February 24th. Citigroup increased their target price on Standard Chartered from GBX 1,170 ($15.85) to GBX 1,250 ($16.94) and gave the company a “neutral” rating in a research note on Thursday, March 6th. Finally, Shore Capital reiterated a “buy” rating on shares of Standard Chartered in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Standard Chartered presently has an average rating of “Moderate Buy” and a consensus price target of GBX 1,085 ($14.70).

Standard Chartered Price Performance

The stock has a market cap of £35.61 billion, a PE ratio of 10.62, a P/E/G ratio of 0.80 and a beta of 0.85. The business has a fifty day moving average of GBX 1,092.01 and a 200 day moving average of GBX 1,083.86.

Insider Activity at Standard Chartered

In related news, insider Bill Winters sold 62,739 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of GBX 1,191 ($16.14), for a total transaction of £747,221.49 ($1,012,358.07). 1.43% of the stock is currently owned by company insiders.

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.