Standard Chartered (LON:STAN) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Standard Chartered PLC (LON:STAN) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 1,264.78 ($16.84) and traded as high as GBX 1,425 ($18.97). Standard Chartered shares last traded at GBX 1,423.13 ($18.95), with a volume of 2,393,209 shares changing hands.

Analyst Ratings Changes

Several research firms have issued reports on STAN. JPMorgan Chase & Co. increased their price objective on shares of Standard Chartered from GBX 1,670 to GBX 1,690 and gave the company an “overweight” rating in a report on Monday, October 20th. Shore Capital increased their price objective on shares of Standard Chartered from GBX 1,270 to GBX 1,355 and gave the company a “hold” rating in a report on Thursday, July 31st. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Standard Chartered presently has an average rating of “Hold” and an average target price of GBX 1,316.25.

Standard Chartered Price Performance

The company’s 50 day moving average price is GBX 1,414.54 and its two-hundred day moving average price is GBX 1,264.78. The stock has a market capitalization of £32.62 billion, a PE ratio of 7.82, a P/E/G ratio of 0.80 and a beta of 0.85.

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.