Standard Chartered (LON:STAN) Hits New 1-Year High – Time to Buy?

Standard Chartered PLC (LON:STAN)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as GBX 1,990 and last traded at GBX 1,978.50, with a volume of 11681619 shares changing hands. The stock had previously closed at GBX 1,946.

Analysts Set New Price Targets

A number of equities research analysts have commented on STAN shares. Jefferies Financial Group reissued a “buy” rating and issued a GBX 2,250 target price on shares of Standard Chartered in a report on Thursday, April 30th. Shore Capital Group upgraded Standard Chartered to a “sell” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. raised their price target on Standard Chartered from GBX 2,200 to GBX 2,220 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, UBS Group restated a “buy” rating and issued a GBX 2,130 price target on shares of Standard Chartered in a research report on Monday, May 18th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Standard Chartered has an average rating of “Hold” and an average price target of GBX 1,938.33.

Standard Chartered Stock Performance

The stock has a market cap of £43.36 billion, a PE ratio of 9.54, a PEG ratio of 0.80 and a beta of 0.60. The business has a 50-day moving average of GBX 1,759.26 and a 200 day moving average of GBX 1,751.63.

Insider Transactions at Standard Chartered

In related news, insider Peter Burrill sold 10,907 shares of Standard Chartered stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of GBX 1,554, for a total transaction of £169,494.78. Also, insider Bill Winters acquired 86,027 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The shares were bought at an average price of GBX 1,507 per share, with a total value of £1,296,426.89. Company insiders own 0.38% of the company’s stock.

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. It offers retail products, such as deposits, mortgages, credit cards, and personal loans; wealth management products and services that include investments, portfolio management, insurance, and wealth advice; and transaction banking services, such as cash management, working capital, and trade financing products.