Standard Chartered (LON:STAN) Reaches New 12-Month High – Still a Buy?

Shares of Standard Chartered PLC (LON:STAN) hit a new 52-week high during trading on Thursday . The company traded as high as GBX 1,938.23 and last traded at GBX 1,934, with a volume of 17763574 shares traded. The stock had previously closed at GBX 1,927.50.

Key Standard Chartered News

Here are the key news stories impacting Standard Chartered this week:

• Positive Sentiment: Standard Chartered is continuing its £1.9 billion share buyback program, which should support earnings per share and signals management confidence in the bank’s capital position. Standard Chartered advances £1.9bn buy-back with latest share repurchase
• Positive Sentiment: The bank also lifted its 2030 earnings target, with CEO Bill Winters highlighting Hong Kong as a core growth market, reinforcing a more optimistic long-term growth outlook. Standard Chartered lifts 2030 earnings target to 18% with Hong Kong at core: CEO Winters
• Neutral Sentiment: The company is reportedly eyeing a major acquisition, which could create strategic growth opportunities but may also introduce execution and integration risk. Standard Chartered eyes major acquisition
• Negative Sentiment: Standard Chartered plans to cut more than 7,000 jobs by 2030 as it expands AI and automation, which may improve efficiency but also signals significant restructuring and possible near-term disruption. Standard Chartered plans to cut 7,000 jobs in AI push
• Negative Sentiment: Management’s “lower-value human capital” comments sparked backlash, forcing the CEO to walk the remarks back and reassure staff, which adds reputational noise and may weigh on sentiment in the near term. Standard Chartered to cut thousands of roles as AI use increases

Analyst Ratings Changes

A number of analysts have commented on the company. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 2,250 price objective on shares of Standard Chartered in a research report on Thursday, April 30th. Shore Capital Group upgraded Standard Chartered to a “sell” rating in a research report on Friday, May 1st. Deutsche Bank Aktiengesellschaft raised their price objective on Standard Chartered from GBX 1,700 to GBX 1,900 and gave the stock a “hold” rating in a research report on Friday, January 23rd. UBS Group reiterated a “buy” rating and issued a GBX 2,130 price objective on shares of Standard Chartered in a research report on Monday. Finally, JPMorgan Chase & Co. raised their price objective on Standard Chartered from GBX 2,200 to GBX 2,220 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of GBX 1,938.33.

Standard Chartered Trading Up 0.3%

The stock has a fifty day moving average price of GBX 1,717.45 and a 200-day moving average price of GBX 1,735.94. The firm has a market capitalization of £42.53 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 0.80 and a beta of 0.60.

Insider Buying and Selling

In other news, insider Peter Burrill sold 10,907 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of GBX 1,554, for a total value of £169,494.78. Also, insider Bill Winters bought 86,027 shares of the company’s stock in a transaction dated Thursday, March 19th. The stock was bought at an average cost of GBX 1,507 per share, with a total value of £1,296,426.89. Corporate insiders own 0.38% 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. It offers retail products, such as deposits, mortgages, credit cards, and personal loans; wealth management products and services that include investments, portfolio management, insurance, and wealth advice; and transaction banking services, such as cash management, working capital, and trade financing products.