JPMorgan Chase & Co. Raises Standard Chartered (LON:STAN) Price Target to GBX 900

Standard Chartered (LON:STAN) had its price target raised by JPMorgan Chase & Co. from GBX 850 ($10.76) to GBX 900 ($11.39) in a research report report published on Thursday, MarketBeat.com reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other equities research analysts have also recently weighed in on the stock. Berenberg Bank increased their price target on shares of Standard Chartered from GBX 1,000 ($12.66) to GBX 1,050 ($13.29) and gave the company a buy rating in a research report on Friday, February 23rd. Shore Capital reiterated a buy rating on shares of Standard Chartered in a report on Friday, February 23rd. Finally, Keefe, Bruyette & Woods raised Standard Chartered to a market perform rating and set a GBX 790 ($10.00) target price on the stock in a research note on Monday, February 12th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of GBX 926.86 ($11.73).

Standard Chartered Price Performance

Shares of Standard Chartered stock opened at GBX 662.80 ($8.39) on Thursday. The stock has a market capitalization of £17.37 billion, a P/E ratio of 789.05, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. Standard Chartered has a one year low of GBX 571 ($7.23) and a one year high of GBX 766.60 ($9.70). The business’s 50 day simple moving average is GBX 647.63 and its two-hundred day simple moving average is GBX 654.75.

Standard Chartered Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, May 17th. Investors of record on Thursday, March 7th will be paid a $0.21 dividend. This is an increase from Standard Chartered’s previous dividend of $0.06. This represents a yield of 2.74%. The ex-dividend date of this dividend is Thursday, March 7th. Standard Chartered’s dividend payout ratio is presently 2,500.00%.

Insider Buying and Selling at Standard Chartered

In other news, insider Bill Winters sold 40,432 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of GBX 655 ($8.29), for a total value of £264,829.60 ($335,184.91). Insiders own 0.31% of the company’s stock.

Standard Chartered Company Profile

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.