Standard Chartered (LON:STAN) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Standard Chartered PLC (LON:STAN) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 993.95 ($13.02) and traded as high as GBX 1,155 ($15.13). Standard Chartered shares last traded at GBX 1,145.37 ($15.01), with a volume of 5,358,164 shares changing hands.

Wall Street Analysts Forecast Growth

STAN has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a GBX 970 ($12.71) price target on shares of Standard Chartered in a research note on Monday, February 24th. Citigroup raised their price target on shares of Standard Chartered from GBX 1,170 ($15.33) to GBX 1,250 ($16.38) and gave the company a “neutral” rating in a research report on Thursday, March 6th. Three 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of GBX 1,073.33 ($14.06).

Standard Chartered Stock Performance

The stock’s 50-day simple moving average is GBX 1,152.17 and its 200 day simple moving average is GBX 995.36. The company has a market capitalization of £31.38 billion, a PE ratio of 9.36, a P/E/G ratio of 0.80 and a beta of 0.85.

Standard Chartered Increases Dividend

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

Insiders Place Their Bets

In related news, insider Bill Winters acquired 33,453 shares of the business’s stock in a transaction on Friday, March 14th. The shares were bought at an average price of GBX 1,158 ($15.17) per share, with a total value of £387,385.74 ($507,580.90). Insiders sold 144,361 shares of company stock valued at $122,238,845 in the last ninety days. Insiders own 1.43% 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.