Standard Chartered (LON:STAN) Hits New 1-Year High on Analyst Upgrade

Standard Chartered PLC (LON:STAN - Get Free Report) hit a new 52-week high on Friday after Barclays raised their price target on the stock from GBX 750 to GBX 800. Barclays currently has an equal weight rating on the stock. Standard Chartered traded as high as GBX 767 ($9.63) and last traded at GBX 760 ($9.55), with a volume of 628809250 shares. The stock had previously closed at GBX 756 ($9.50).

STAN has been the topic of several other reports. Keefe, Bruyette & Woods raised shares of Standard Chartered to a "market perform" rating and set a GBX 790 ($9.92) price target on the stock in a report on Monday, February 12th. Berenberg Bank raised their target price 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 report on Friday, February 23rd. Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 1,300 ($16.33) target price on shares of Standard Chartered in a report on Thursday, April 18th. JPMorgan Chase & Co. reaffirmed an "overweight" rating on shares of Standard Chartered in a report on Thursday. Finally, Shore Capital reaffirmed a "buy" rating on shares of Standard Chartered in a report on Friday, February 23rd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Standard Chartered presently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 951.33 ($11.95).

Insider Transactions at Standard Chartered

In related news, insider Bill Winters sold 24,101 shares of Standard Chartered stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of GBX 665 ($8.35), for a total value of £160,271.65 ($201,321.00). Insiders own 0.31% of the company's stock.

Standard Chartered Stock Performance

The business's fifty day moving average price is GBX 672.33 and its 200-day moving average price is GBX 648.20. The stock has a market cap of £19.78 billion, a PE ratio of 898.81, a P/E/G ratio of 1.07 and a beta of 0.87.

Standard Chartered Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, May 17th. Stockholders of record on Thursday, March 7th will be given a dividend of $0.21 per share. The ex-dividend date is Thursday, March 7th. This represents a dividend yield of 2.74%. This is a boost from Standard Chartered's previous dividend of $0.06. Standard Chartered's dividend payout ratio (DPR) is presently 2,500.00%.

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.