Standard Chartered (LON:STAN) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Standard Chartered PLC (LON:STAN) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 1,006.04 ($13.31) and traded as high as GBX 1,030.19 ($13.63). Standard Chartered shares last traded at GBX 1,025 ($13.57), with a volume of 9,327,281 shares trading hands.

Analyst Upgrades and Downgrades

STAN has been the topic of several research reports. Citigroup boosted their price objective on shares of Standard Chartered from GBX 1,170 ($15.48) to GBX 1,250 ($16.54) and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a GBX 970 ($12.84) price target on shares of Standard Chartered in a research report on Monday, February 24th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of GBX 1,073.33 ($14.21).

Standard Chartered Stock Up 3.6 %

The firm’s fifty day simple moving average is GBX 1,124.34 and its 200-day simple moving average is GBX 1,006.04. The firm has a market capitalization of £30.95 billion, a PE ratio of 9.23, a PEG ratio of 0.80 and a beta of 0.85.

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 $0.28 dividend. This is a positive change from Standard Chartered’s previous dividend of $0.09. This represents a yield of 1.79%. The ex-dividend date is Thursday, March 27th. Standard Chartered’s payout ratio is presently 20.71%.

Insider Activity at Standard Chartered

In related news, insider Bill Winters bought 33,453 shares of the business’s stock in a transaction on Friday, March 14th. The stock was acquired at an average price of GBX 1,158 ($15.33) per share, with a total value of £387,385.74 ($512,686.26). In the last three months, insiders have sold 144,361 shares of company stock valued at $122,238,845. 1.43% of the stock is owned by corporate insiders.

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.