Standard Chartered (LON:STAN) Receives Buy Rating from Shore Capital

Shore Capital restated their buy rating on shares of Standard Chartered (LON:STAN) in a research note issued to investors on Friday morning, MarketBeat.com reports.

Several other research firms have also recently issued reports on STAN. Citigroup increased their price target on Standard Chartered from GBX 1,170 ($15.53) to GBX 1,250 ($16.59) and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a GBX 970 ($12.87) price target on shares of Standard Chartered in a report on Monday, February 24th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of GBX 1,085 ($14.40).

Standard Chartered Price Performance

Shares of STAN stock opened at GBX 1,097.60 ($14.56) on Friday. Standard Chartered has a 12 month low of GBX 664.80 ($8.82) and a 12 month high of GBX 1,281 ($17.00). The firm has a market capitalization of £33.14 billion, a P/E ratio of 9.88, a P/E/G ratio of 0.80 and a beta of 0.85. The company’s fifty day moving average price is GBX 1,104.02 and its two-hundred day moving average price is GBX 1,033.21.

Standard Chartered Increases Dividend

The company also recently disclosed a dividend, which will be paid on Monday, May 19th. Investors of record on Thursday, March 27th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, March 27th. This is an increase from Standard Chartered’s previous dividend of $0.09. This represents a dividend yield of 1.79%. Standard Chartered’s dividend payout ratio (DPR) is presently 20.71%.

Insiders Place Their Bets

In related news, insider Bill Winters sold 62,739 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of GBX 1,191 ($15.80), for a total value of £747,221.49 ($991,535.95). Insiders have sold 144,361 shares of company stock valued at $122,238,845 in the last 90 days. 1.43% of the stock is currently owned by 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.