Shore Capital Reaffirms Buy Rating for Standard Chartered (LON:STAN)

Shore Capital reaffirmed their buy rating on shares of Standard Chartered (LON:STAN - Free Report) in a report issued on Friday, Marketbeat.com reports.

Several other equities research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a GBX 970 ($12.87) target price on shares of Standard Chartered in a report on Monday, February 24th. Citigroup raised their price objective on shares of Standard Chartered from GBX 1,170 ($15.53) to GBX 1,250 ($16.59) and gave the company a "neutral" rating in a research note on Thursday, March 6th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of GBX 1,085 ($14.40).

Standard Chartered Trading Up 0.1 %

STAN traded up GBX 0.60 ($0.01) during midday trading on Friday, reaching GBX 1,097.60 ($14.56). The company's stock had a trading volume of 17,496,893 shares, compared to its average volume of 13,928,789. Standard Chartered has a 1 year low of GBX 664.80 ($8.82) and a 1 year high of GBX 1,281 ($17.00). The stock's 50-day moving average is GBX 1,104.02 and its 200-day moving average is GBX 1,033.21. The firm has a market capitalization of £33.14 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 0.80 and a beta of 0.85.

Standard Chartered Increases Dividend

The business also recently disclosed a dividend, which will be paid on Monday, May 19th. Investors 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. The ex-dividend date of this dividend is Thursday, March 27th. This represents a yield of 1.79%. Standard Chartered's dividend payout ratio is 20.71%.

Insider Buying and Selling

In other news, insider Bill Winters sold 41,190 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of GBX 12 ($0.16), for a total value of £4,942.80 ($6,558.92). Over the last quarter, insiders have sold 144,361 shares of company stock worth $122,238,845. 1.43% of the stock is owned by 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.