Standard Chartered (LON:STAN) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

Standard Chartered PLC (LON:STAN - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,016.71 ($13.64) and traded as high as GBX 1,101 ($14.77). Standard Chartered shares last traded at GBX 1,087.50 ($14.59), with a volume of 471,044,969 shares trading hands.

Analysts Set New Price Targets

STAN has been the subject of several recent analyst reports. Citigroup upped their price objective on shares of Standard Chartered from GBX 1,170 ($15.69) to GBX 1,250 ($16.77) and gave the stock a "neutral" rating in a research report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a GBX 970 ($13.01) price objective on shares of Standard Chartered in a research note on Monday, February 24th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of GBX 1,028 ($13.79).

Standard Chartered Trading Up 2.9 %

The company has a market capitalization of £33.24 billion, a P/E ratio of 9.91, a P/E/G ratio of 0.80 and a beta of 0.85. The company's fifty day moving average is GBX 1,109.74 and its 200 day moving average is GBX 1,027.87.

Standard Chartered Increases Dividend

The business also recently disclosed a dividend, which will be paid on Monday, May 19th. Stockholders of record on Thursday, March 27th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, March 27th. This represents a dividend yield of 1.79%. This is a boost from Standard Chartered's previous dividend of $0.09. Standard Chartered's dividend payout ratio (DPR) is 20.71%.

Insider Activity

In other Standard Chartered news, insider Bill Winters sold 62,739 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of GBX 1,191 ($15.97), for a total transaction of £747,221.49 ($1,002,174.75). In the last quarter, insiders sold 144,361 shares of company stock valued at $122,238,845. Insiders own 1.43% 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.