Standard Chartered (LON:STAN) Price Target Raised to GBX 800

Standard Chartered (LON:STAN) had its target price increased by Barclays from GBX 750 ($9.42) to GBX 800 ($10.05) in a research note published on Friday morning, MarketBeat reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

A number of other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. reaffirmed an overweight rating on shares of Standard Chartered in a report on Thursday. Keefe, Bruyette & Woods upgraded shares of Standard Chartered to a market perform rating and set a GBX 790 ($9.92) price target on the stock in a report on Monday, February 12th. Jefferies Financial Group reaffirmed a buy rating and issued a GBX 1,300 ($16.33) price objective on shares of Standard Chartered in a research report on Thursday, April 18th. Shore Capital reissued a buy rating on shares of Standard Chartered in a research report on Friday, February 23rd. Finally, Berenberg Bank upped their target price on Standard Chartered from GBX 1,000 ($12.56) to GBX 1,050 ($13.19) and gave the company a buy rating in a report on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of GBX 951.33 ($11.95).

Standard Chartered Stock Down 0.1 %

Shares of LON:STAN opened at GBX 755 ($9.48) on Friday. The business’s 50 day moving average is GBX 674.73 and its 200 day moving average is GBX 646.89. Standard Chartered has a 12-month low of GBX 571 ($7.17) and a 12-month high of GBX 767 ($9.63). The stock has a market cap of £19.78 billion, a price-to-earnings ratio of 898.81, a PEG ratio of 1.07 and a beta of 0.87.

Standard Chartered Increases Dividend

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

Insider Transactions at Standard Chartered

In other Standard Chartered news, insider Bill Winters sold 40,432 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of GBX 655 ($8.23), for a total value of £264,829.60 ($332,658.71). 0.31% of the stock is currently owned by company insiders.

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.