Standard Chartered (LON:STAN) Hits New 12-Month Low at $110.85

Standard Chartered PLC (LON:STANGet Rating)’s share price hit a new 52-week low on Thursday . The stock traded as low as GBX 110.85 ($1.35) and last traded at GBX 600.59 ($7.29), with a volume of 5860036 shares trading hands. The stock had previously closed at GBX 610.80 ($7.41).

STAN has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Standard Chartered from GBX 620 ($7.53) to GBX 800 ($9.71) and gave the company a “buy” rating in a report on Friday, April 29th. Shore Capital restated a “buy” rating on shares of Standard Chartered in a report on Thursday, May 19th. Morgan Stanley restated an “equal weight” rating on shares of Standard Chartered in a report on Wednesday, May 11th. JPMorgan Chase & Co. upped their price target on shares of Standard Chartered from GBX 690 ($8.37) to GBX 730 ($8.86) and gave the company an “overweight” rating in a report on Thursday, May 19th. Finally, Barclays reaffirmed an “equal weight” rating and issued a GBX 700 ($8.50) target price on shares of Standard Chartered in a research report on Wednesday, April 20th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of GBX 694 ($8.42).

The stock has a market cap of £17.82 billion and a price-to-earnings ratio of 12.44. The company’s fifty day simple moving average is GBX 566.31 and its two-hundred day simple moving average is GBX 519.28.

In related news, insider Shirish Moreshwar Apte purchased 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 30th. The shares were bought at an average price of GBX 630 ($7.65) per share, for a total transaction of £12,600 ($15,293.12). Also, insider Andrew Nigel (Andy) Halford sold 10,400 shares of the stock in a transaction on Friday, May 6th. The shares were sold at an average price of GBX 562 ($6.82), for a total value of £58,448 ($70,940.65).

Standard Chartered Company Profile (LON:STAN)

Standard Chartered PLC, together with its subsidiaries, provides various banking products and services primarily in Asia, Africa, Europe, the Americas, and the Middle East. The company operates through two segments: Corporate, Commercial and Institutional Banking; and Consumer, Private and Business Banking.

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