Standard Chartered (LON:STAN) Receives Buy Rating from Berenberg Bank

Berenberg Bank reissued their buy rating on shares of Standard Chartered (LON:STANGet Rating) in a research report released on Monday morning, Marketbeat.com reports. The brokerage currently has a GBX 750 ($9.19) price objective on the financial services provider’s stock.

Several other research firms have also recently commented on STAN. JPMorgan Chase & Co. upped their target price on shares of Standard Chartered from GBX 690 ($8.45) to GBX 730 ($8.94) and gave the stock an overweight rating in a research report on Thursday, May 19th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Standard Chartered from GBX 620 ($7.60) to GBX 800 ($9.80) and gave the stock a buy rating in a research report on Friday, April 29th. Shore Capital restated a buy rating on shares of Standard Chartered in a research report on Friday. Morgan Stanley restated an equal weight rating on shares of Standard Chartered in a research report on Wednesday, May 11th. Finally, Barclays restated an equal weight rating and issued a GBX 780 ($9.56) target price on shares of Standard Chartered in a research report on Thursday, July 14th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of GBX 710 ($8.70).

Standard Chartered Stock Up 0.7 %

Shares of LON:STAN opened at GBX 572 ($7.01) on Monday. Standard Chartered has a fifty-two week low of GBX 406.20 ($4.98) and a fifty-two week high of GBX 641 ($7.85). The company has a market cap of £16.98 billion and a PE ratio of 1,092.69. The firm has a 50-day simple moving average of GBX 598.27 and a 200 day simple moving average of GBX 553.31.

Standard Chartered Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, October 14th. Stockholders of record on Thursday, August 11th will be issued a $0.04 dividend. This represents a dividend yield of 0.58%. The ex-dividend date is Thursday, August 11th. Standard Chartered’s dividend payout ratio (DPR) is presently 23.08%.

Insider Activity

In related news, insider Shirish Moreshwar Apte acquired 2,000 shares of the firm’s stock in a transaction dated Monday, May 30th. The stock was acquired at an average cost of GBX 630 ($7.72) per share, for a total transaction of £12,600 ($15,439.28). In related news, insider Andrew Nigel (Andy) Halford sold 10,400 shares of the stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of GBX 562 ($6.89), for a total transaction of £58,448 ($71,618.67). Also, insider Shirish Moreshwar Apte bought 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 30th. The shares were acquired at an average cost of GBX 630 ($7.72) per share, with a total value of £12,600 ($15,439.28).

Standard Chartered Company Profile

(Get Rating)

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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Analyst Recommendations for Standard Chartered (LON:STAN)

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