Standard Chartered (LON:STAN) Reaches New 1-Year High Following Analyst Upgrade

Key Points

• Shares hit a new 52-week high after JPMorgan raised its price target to GBX 2,220 and kept an overweight rating; STAN traded up to GBX 1,935.20 (last GBX 1,928.80) and was up about 6.1% from the prior close.
• Analyst sentiment is mixed—two Buys, two Holds and one Sell—with an average rating of "Hold" and an average target of GBX 1,900, though recent target increases (Jefferies GBX 2,250, Citigroup, Deutsche Bank) point to upward revisions.
• Notable insider activity: CEO Bill Winters bought 86,027 shares at GBX 1,507 while Peter Burrill sold 10,907 shares at GBX 1,554, and insiders collectively own about 0.38% of the stock.

Shares of Standard Chartered PLC (LON:STAN - Get Free Report) hit a new 52-week high during trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from GBX 2,200 to GBX 2,220. JPMorgan Chase & Co. currently has an overweight rating on the stock. Standard Chartered traded as high as GBX 1,935.20 and last traded at GBX 1,928.80, with a volume of 134235844 shares traded. The stock had previously closed at GBX 1,819.40.

A number of other equities analysts have also recently issued reports on STAN. Citigroup increased their target price on Standard Chartered from GBX 1,675 to GBX 1,775 and gave the stock a "neutral" rating in a report on Friday, January 9th. Deutsche Bank Aktiengesellschaft boosted their price target on Standard Chartered from GBX 1,700 to GBX 1,900 and gave the company a "hold" rating in a research note on Friday, January 23rd. Jefferies Financial Group reiterated a "buy" rating and set a GBX 2,250 price objective on shares of Standard Chartered in a research note on Thursday, April 30th. Finally, Shore Capital Group raised Standard Chartered to a "sell" rating in a report on Friday, May 1st. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of GBX 1,900.

Insider Activity at Standard Chartered

In related news, insider Peter Burrill sold 10,907 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of GBX 1,554, for a total transaction of £169,494.78. Also, insider Bill Winters purchased 86,027 shares of the company'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, with a total value of £1,296,426.89. 0.38% of the stock is owned by insiders.

Standard Chartered Stock Up 6.1%

The stock has a fifty day moving average of GBX 1,685.31 and a 200-day moving average of GBX 1,701.49. The firm has a market capitalization of £42.75 billion, a P/E ratio of 9.35, a PEG ratio of 0.80 and a beta of 0.52.

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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