Standard Chartered (LON:STAN) Share Price Passes Above 200 Day Moving Average of $658.18

Shares of Standard Chartered PLC (LON:STAN) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 658.18 ($8.26) and traded as high as GBX 706 ($8.86). Standard Chartered shares last traded at GBX 698.20 ($8.76), with a volume of 7,730,650 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 850 ($10.67) price objective on shares of Standard Chartered in a research note on Monday, February 26th. Shore Capital restated a “buy” rating on shares of Standard Chartered in a research note on Friday, February 23rd. Berenberg Bank lifted their price objective on shares of Standard Chartered from GBX 1,000 ($12.55) to GBX 1,050 ($13.18) and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, Keefe, Bruyette & Woods upgraded shares of Standard Chartered to a “market perform” rating and set a GBX 790 ($9.92) price objective for the company in a research note on Monday, February 12th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 919.71 ($11.55).

Standard Chartered Price Performance

The firm has a market cap of £18.29 billion, a PE ratio of 831.19, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. The stock’s fifty day moving average price is GBX 639.75 and its 200-day moving average price is GBX 657.91.

Standard Chartered Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, May 17th. Stockholders of record on Thursday, March 7th will be issued a dividend of $0.21 per share. This is a positive change from Standard Chartered’s previous dividend of $0.06. The ex-dividend date is Thursday, March 7th. This represents a dividend yield of 2.74%. Standard Chartered’s dividend payout ratio is presently 2,500.00%.

Insider Transactions at Standard Chartered

In other news, insider Bill Winters sold 40,432 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of GBX 655 ($8.22), for a total transaction of £264,829.60 ($332,449.91). Insiders own 0.31% of the company’s stock.

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.