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

Shares of Standard Chartered PLC (LON:STAN) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 1,038.62 ($13.82) and traded as high as GBX 1,081.60 ($14.39). Standard Chartered shares last traded at GBX 1,074.44 ($14.29), with a volume of 4,698,361 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Shore Capital restated a “buy” rating on shares of Standard Chartered in a research report on Friday, May 2nd. Citigroup raised their target price on shares of Standard Chartered from GBX 1,170 ($15.56) to GBX 1,250 ($16.63) and gave the stock a “neutral” rating in a report on Thursday, March 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a GBX 970 ($12.90) price target on shares of Standard Chartered in a research report on Monday, February 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of GBX 1,085 ($14.43).

Standard Chartered Stock Performance

The stock has a market capitalization of £32.44 billion, a P/E ratio of 9.67, a price-to-earnings-growth ratio of 0.80 and a beta of 0.85. The stock has a 50-day moving average price of GBX 1,085.45 and a two-hundred day moving average price of GBX 1,038.62.

Standard Chartered Increases Dividend

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

Insiders Place Their Bets

In other news, insider Bill Winters purchased 33,453 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were bought at an average cost of GBX 1,158 ($15.41) per share, for a total transaction of £387,385.74 ($515,346.20). In the last ninety days, insiders sold 144,361 shares of company stock worth $122,238,845. 1.43% 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.