Standard Chartered (LON:STAN) Sets New 1-Year High After Analyst Upgrade

Standard Chartered PLC (LON:STAN)’s share price reached a new 52-week high on Friday after Barclays raised their price target on the stock from GBX 750 to GBX 800. Barclays currently has an equal weight rating on the stock. Standard Chartered traded as high as GBX 767 ($9.63) and last traded at GBX 760 ($9.55), with a volume of 628809250 shares trading hands. The stock had previously closed at GBX 756 ($9.50).

Several other equities analysts have also issued reports on STAN. Shore Capital restated a “buy” rating on shares of Standard Chartered in a report on Friday, February 23rd. Berenberg Bank increased their price target on shares of Standard Chartered from GBX 1,000 ($12.56) to GBX 1,050 ($13.19) and gave the stock a “buy” rating in a research report on Friday, February 23rd. Keefe, Bruyette & Woods upgraded shares of Standard Chartered to a “market perform” rating and set a GBX 790 ($9.92) price objective for the company in a report on Monday, February 12th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Standard Chartered in a research note on Thursday. Finally, Jefferies Financial Group reissued a “buy” rating and issued a GBX 1,300 ($16.33) price target on shares of Standard Chartered in a research report on Thursday, April 18th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Standard Chartered currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 951.33 ($11.95).

Insider Buying and Selling

In related news, insider Bill Winters sold 24,101 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of GBX 665 ($8.35), for a total value of £160,271.65 ($201,321.00). 0.31% of the stock is owned by insiders.

Standard Chartered Stock Up 0.4 %

The company’s fifty day moving average price is GBX 672.33 and its two-hundred day moving average price is GBX 648.20. The firm has a market cap of £19.89 billion, a PE ratio of 901.67, a P/E/G ratio of 1.07 and a beta of 0.87.

Standard Chartered Increases Dividend

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

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.