Standard Chartered (LON:STAN) Hits New 52-Week High at $767.40

Standard Chartered PLC (LON:STAN) hit a new 52-week high during mid-day trading on Friday . The company traded as high as GBX 767.40 ($9.64) and last traded at GBX 766 ($9.62), with a volume of 44462879 shares changing hands. The stock had previously closed at GBX 754.80 ($9.48).

Analyst Upgrades and Downgrades

A number of research firms have weighed in on STAN. Shore Capital reissued a “buy” rating on shares of Standard Chartered in a report on Friday, February 23rd. Berenberg Bank boosted their price objective on shares of Standard Chartered from GBX 1,000 ($12.56) to GBX 1,050 ($13.19) and gave the stock a “buy” rating in a research note on Friday, February 23rd. Keefe, Bruyette & Woods raised Standard Chartered to a “market perform” rating and set a GBX 790 ($9.92) target price for the company in a research report on Monday, February 12th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Standard Chartered in a report on Thursday, May 2nd. Finally, Barclays raised their price objective on Standard Chartered from GBX 750 ($9.42) to GBX 800 ($10.05) and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Standard Chartered has an average rating of “Moderate Buy” and a consensus target price of GBX 951.33 ($11.95).

Standard Chartered Stock Up 1.8 %

The stock’s 50-day simple moving average is GBX 683.05 and its 200 day simple moving average is GBX 648.68. The firm has a market cap of £19.67 billion, a P/E ratio of 848.09, a PEG ratio of 1.15 and a beta of 0.84.

Standard Chartered Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, May 17th. Investors of record on Thursday, March 7th will be given 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 2,359.55%.

Insider Buying and Selling

In other Standard Chartered news, insider Bill Winters sold 40,432 shares of the business’s stock in a transaction that occurred 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 ($332,700.50). 1.39% 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.