Standard Chartered (LON:STAN) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Standard Chartered PLC (LON:STAN) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 993.95 ($12.85) and traded as high as GBX 1,155 ($14.93). Standard Chartered shares last traded at GBX 1,145.37 ($14.81), with a volume of 5,358,164 shares.

Analysts Set New Price Targets

Several brokerages have issued reports on STAN. Citigroup increased their price target on Standard Chartered from GBX 1,170 ($15.13) to GBX 1,250 ($16.16) and gave the stock a “neutral” rating in a report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a GBX 970 ($12.54) target price on shares of Standard Chartered in a report on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Standard Chartered currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,073.33 ($13.88).

Standard Chartered Stock Performance

The business has a 50 day simple moving average of GBX 1,151.34 and a 200-day simple moving average of GBX 993.95. The firm has a market cap of £34.58 billion, a price-to-earnings ratio of 10.31, a P/E/G ratio of 0.80 and a beta of 0.85.

Standard Chartered Increases Dividend

The business also recently announced a dividend, which will be paid on Monday, May 19th. Investors of record on Thursday, March 27th will be given a dividend of $0.28 per share. This is a boost from Standard Chartered’s previous dividend of $0.09. The ex-dividend date of this dividend is Thursday, March 27th. This represents a dividend yield of 1.79%. Standard Chartered’s payout ratio is presently 20.71%.

Insider Buying and Selling

In other news, insider Bill Winters acquired 33,453 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was purchased at an average price of GBX 1,158 ($14.97) per share, for a total transaction of £387,385.74 ($500,821.90). Over the last 90 days, insiders sold 144,361 shares of company stock worth $122,238,845. 1.43% of the stock is owned by corporate 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.