Standard Chartered (LON:STAN) Earns "Sell" Rating from Shore Capital Group

Key Points

• Shore Capital reaffirmed a "sell" rating on Standard Chartered, while the analyst consensus remains a Hold (2 Buy, 2 Hold, 1 Sell) with an average price target of GBX 1,890.
• Shares traded up 3.6% to GBX 1,854 on Thursday with above-average volume; the bank has a market cap of £41.06 billion and valuation metrics of P/E 9.78 and PEG 0.80.
• Insider activity: CEO Bill Winters bought 86,027 shares at GBX 1,507, while another insider sold 10,907 shares, and insiders own 0.38% of the stock.

Standard Chartered (LON:STAN - Get Free Report)'s stock had its "sell" rating reaffirmed by research analysts at Shore Capital Group in a research report issued to clients and investors on Thursday,Digital Look reports.

STAN has been the topic of a number of other reports. Citigroup upped their price target on shares of Standard Chartered from GBX 1,675 to GBX 1,775 and gave the stock a "neutral" rating in a research note on Friday, January 9th. Jefferies Financial Group reiterated a "buy" rating and issued a GBX 2,250 price objective on shares of Standard Chartered in a research report on Thursday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Standard Chartered from GBX 1,700 to GBX 1,900 and gave the stock a "hold" rating in a research report on Friday, January 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Standard Chartered from GBX 1,880 to GBX 2,170 and gave the stock an "overweight" rating in a research report on Thursday, February 5th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of GBX 1,890.

Standard Chartered Trading Up 3.6%

Shares of LON:STAN traded up GBX 64 on Thursday, reaching GBX 1,854. 54,779,555 shares of the company were exchanged, compared to its average volume of 47,280,230. Standard Chartered has a 1-year low of GBX 1,038.50 and a 1-year high of GBX 1,924. The firm has a market cap of £41.06 billion, a price-to-earnings ratio of 9.78, a price-to-earnings-growth ratio of 0.80 and a beta of 0.52. The company has a 50-day moving average of GBX 1,683.40 and a 200-day moving average of GBX 1,694.08.

Insider Activity

In other Standard Chartered news, insider Bill Winters acquired 86,027 shares of the firm's stock in a transaction that occurred on Thursday, March 19th. The shares were acquired at an average cost of GBX 1,507 per share, for a total transaction of £1,296,426.89. Also, insider Peter Burrill sold 10,907 shares of the company's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of GBX 1,554, for a total transaction of £169,494.78. 0.38% of the stock is owned by insiders.

About Standard Chartered

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.