Standard Chartered (LON:STAN) Stock Price Crosses Above 200-Day Moving Average of $649.98

Standard Chartered PLC (LON:STAN) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 649.98 ($8.03) and traded as high as GBX 690.40 ($8.53). Standard Chartered shares last traded at GBX 682.80 ($8.43), with a volume of 5,475,316 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently issued reports on STAN shares. Berenberg Bank boosted their price objective on shares of Standard Chartered from GBX 1,000 ($12.35) to GBX 1,050 ($12.97) and gave the company a “buy” rating in a report on Friday, February 23rd. Keefe, Bruyette & Woods upgraded shares of Standard Chartered to a “market perform” rating and set a GBX 790 ($9.76) price objective for the company in a report on Monday, February 12th. Shore Capital reiterated a “buy” rating on shares of Standard Chartered in a report on Friday, February 23rd. JPMorgan Chase & Co. upped their price target on shares of Standard Chartered from GBX 850 ($10.50) to GBX 900 ($11.12) and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a GBX 1,300 ($16.06) price target on shares of Standard Chartered in a report on Thursday, April 18th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Standard Chartered currently has an average rating of “Moderate Buy” and a consensus target price of GBX 964.67 ($11.92).

Standard Chartered Price Performance

The company has a market capitalization of £17.89 billion, a P/E ratio of 812.86, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. The company’s 50-day moving average price is GBX 662.24 and its two-hundred day moving average price is GBX 649.98.

Standard Chartered Increases Dividend

The firm 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. The ex-dividend date of this dividend is Thursday, March 7th. This is an increase from Standard Chartered’s previous dividend of $0.06. This represents a dividend yield of 2.74%. Standard Chartered’s dividend payout ratio is 2,500.00%.

Insider Activity at Standard Chartered

In other Standard Chartered news, insider Bill Winters sold 40,432 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of GBX 655 ($8.09), for a total transaction of £264,829.60 ($327,111.66). 0.31% of the stock is currently owned by corporate 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.