Standard Chartered (LON:STAN) Stock Price Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• Standard Chartered shares moved above their 200-day moving average, reaching GBX 2,222 and last trading at GBX 2,204, compared with a 200-day average of GBX 1,918.44.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of GBX 2,278. Targets from major brokerages range from GBX 2,130 to GBX 2,450.
• Chief Group Executive Bill Winters purchased 300,000 shares for approximately £6.66 million, signaling insider confidence; insiders collectively own 0.39% of the company.

Standard Chartered PLC (LON:STAN - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,918.44 and traded as high as GBX 2,222. Standard Chartered shares last traded at GBX 2,204, with a volume of 4,860,072 shares.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on STAN. Citigroup increased their target price on shares of Standard Chartered from GBX 2,130 to GBX 2,230 and gave the company a "neutral" rating in a report on Thursday, July 30th. UBS Group restated a "buy" rating and set a GBX 2,130 price target on shares of Standard Chartered in a report on Monday, May 18th. Jefferies Financial Group reaffirmed a "buy" rating and issued a GBX 2,250 price objective on shares of Standard Chartered in a research report on Wednesday, July 29th. JPMorgan Chase & Co. increased their price objective on shares of Standard Chartered from GBX 2,270 to GBX 2,330 and gave the company an "overweight" rating in a research note on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a GBX 2,450 target price on shares of Standard Chartered in a research report on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 2,278.

Standard Chartered Price Performance

The business's fifty day moving average is GBX 2,150.10 and its 200-day moving average is GBX 1,918.44. The firm has a market cap of £48.25 billion, a PE ratio of 10.43, a P/E/G ratio of 0.80 and a beta of 0.60.

Insider Buying and Selling

In other news, Chief Group Executive Bill Winters bought 300,000 shares of the firm's stock in a transaction on Tuesday, August 4th. The stock was acquired at an average cost of GBX 2,221 per share, with a total value of £6,663,000. Insiders own 0.39% 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.

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