Standard Chartered’s (STAN) “Buy” Rating Reiterated at Berenberg Bank

Berenberg Bank reaffirmed their buy rating on shares of Standard Chartered (LON:STAN – Get Rating) in a research note released on Friday, Digital Look reports. The firm currently has a GBX 1,000 ($12.44) price objective on the financial services provider’s stock.

A number of other research firms also recently issued reports on STAN. The Goldman Sachs Group downgraded shares of Standard Chartered to a neutral rating in a research report on Thursday, February 2nd. Shore Capital restated a buy rating on shares of Standard Chartered in a research report on Wednesday, April 26th. Citigroup restated a neutral rating on shares of Standard Chartered in a research report on Tuesday, February 7th. JPMorgan Chase & Co. cut their price target on shares of Standard Chartered from GBX 1,000 ($12.44) to GBX 970 ($12.06) and set an overweight rating on the stock in a research report on Tuesday, April 18th. Finally, Jefferies Financial Group cut their price target on shares of Standard Chartered from GBX 1,000 ($12.44) to GBX 980 ($12.19) and set a buy rating on the stock in a research report on Thursday, April 27th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of GBX 930.83 ($11.58).

Standard Chartered Trading Up 3.0 %

Standard Chartered stock opened at GBX 653.20 ($8.12) on Friday. Standard Chartered has a 1 year low of GBX 515.60 ($6.41) and a 1 year high of GBX 799.40 ($9.94). The company has a market cap of £18.42 billion, a PE ratio of 882.70, a PEG ratio of 0.35 and a beta of 0.87. The company’s 50-day moving average is GBX 625.23 and its two-hundred day moving average is GBX 651.56.

Insider Buying and Selling

In related news, insider Bill Winters sold 17,331 shares of the stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of GBX 597 ($7.43), for a total transaction of £103,466.07 ($128,689.14). In other Standard Chartered news, insider Andrew Nigel (Andy) Halford sold 17,327 shares of Standard Chartered stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of GBX 658 ($8.18), for a total value of £114,011.66 ($141,805.55). Also, insider Bill Winters sold 17,331 shares of the business’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of GBX 597 ($7.43), for a total transaction of £103,466.07 ($128,689.14). In the last three months, insiders sold 71,570 shares of company stock valued at $48,711,307. 0.38% of the stock is owned by corporate insiders.

Standard Chartered Company Profile

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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.