Standard Chartered (LON:STAN) Trading Down 9.8% – Should You Sell?

Standard Chartered PLC (LON:STAN)’s share price fell 9.8% during mid-day trading on Thursday . The stock traded as low as GBX 999 ($12.89) and last traded at GBX 1,039.38 ($13.41). 646,990,750 shares were traded during mid-day trading, an increase of 2,485% from the average session volume of 25,029,953 shares. The stock had previously closed at GBX 1,152.50 ($14.87).

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a GBX 970 ($12.51) price objective on shares of Standard Chartered in a research report on Monday, February 24th. Citigroup upped their price target on Standard Chartered from GBX 1,170 ($15.09) to GBX 1,250 ($16.12) and gave the company a “neutral” rating in a report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of GBX 1,073.33 ($13.85).

Standard Chartered Stock Performance

The stock has a 50-day moving average price of GBX 1,149.52 and a two-hundred day moving average price of GBX 996.55. The stock has a market capitalization of £28.50 billion, a PE ratio of 8.50, a PEG ratio of 0.80 and a beta of 0.85.

Standard Chartered Increases Dividend

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

Insider Activity at Standard Chartered

In other Standard Chartered news, insider Bill Winters sold 62,739 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of GBX 1,191 ($15.36), for a total value of £747,221.49 ($963,908.01). In the last quarter, insiders have 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.