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

Standard Chartered PLC (LON:STAN)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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.

Wall Street Analysts Forecast Growth

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

Standard Chartered Price Performance

The stock has a market capitalization of £17.89 billion, a PE ratio of 812.86, a PEG ratio of 1.07 and a beta of 0.87. The stock’s 50 day simple moving average is GBX 662.24 and its two-hundred day simple moving average is GBX 649.98.

Standard Chartered Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, May 17th. Shareholders of record on Thursday, March 7th will be paid a $0.21 dividend. This represents a yield of 2.74%. This is a boost from Standard Chartered’s previous dividend of $0.06. The ex-dividend date is Thursday, March 7th. Standard Chartered’s payout ratio is presently 2,500.00%.

Insider Buying and Selling at Standard Chartered

In other news, insider Bill Winters sold 24,101 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of GBX 665 ($8.21), for a total value of £160,271.65 ($197,963.99). Corporate insiders own 0.31% of the company’s stock.

Standard Chartered Company Profile

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.