Standard Chartered (LON:STAN) Sets New 12-Month High - What's Next?

Key Points

• Standard Chartered shares reached a new 52-week high, trading as high as GBX 2,347 and closing near GBX 2,343, up 1.3% with more than 25.7 million shares changing hands.
• Analyst sentiment remains generally positive: the stock has a consensus rating of “Moderate Buy” and an average target price of GBX 2,334, with JPMorgan and Deutsche Bank setting targets of GBX 2,470 and GBX 2,450, respectively.
• Chief Executive Bill Winters bought 300,000 shares worth approximately £6.66 million, while the company’s market capitalization stands at about £51.14 billion and its P/E ratio is 11.08.

Standard Chartered PLC (LON:STAN - Get Free Report)'s stock price reached a new 52-week high on Monday. The stock traded as high as GBX 2,347 and last traded at GBX 2,343, with a volume of 25771463 shares changing hands. The stock had previously closed at GBX 2,313.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Jefferies Financial Group reaffirmed a "buy" rating and issued a GBX 2,250 target price on shares of Standard Chartered in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a GBX 2,450 target price on shares of Standard Chartered in a report on Thursday, July 30th. Citigroup lifted their price target on Standard Chartered from GBX 2,230 to GBX 2,370 and gave the stock a "neutral" rating in a research report on Wednesday, September 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Standard Chartered from GBX 2,330 to GBX 2,470 and gave the stock an "overweight" rating in a report on Tuesday, September 8th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Standard Chartered currently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 2,334.

Standard Chartered Trading Up 1.3%

The stock has a market capitalization of £51.14 billion, a P/E ratio of 11.08, a P/E/G ratio of 0.80 and a beta of 0.59. The firm's fifty day moving average is GBX 2,212.59 and its 200-day moving average is GBX 1,981.62.

Insider Buying and Selling

In other news, Chief Group Executive Bill Winters acquired 300,000 shares of Standard Chartered stock in a transaction on Tuesday, August 4th. The shares were purchased at an average price of GBX 2,221 per share, with a total value of £6,663,000. 0.38% of the stock is currently 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. 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.

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