Standard Chartered (LON:STAN) Shares Cross Above 200-Day Moving Average - Time to Sell?

Key Points

• Standard Chartered shares crossed above their 200-day moving average
• Analysts have lifted price targets recently—most notably JPMorgan to GBX 2,170 (Deutsche Bank to GBX 1,900 and Citi to GBX 1,775)—but consensus remains an average "Hold" rating with an average target of GBX 1,800.
• Insider activity included Bill Winters buying 86,027 shares at GBX 1,507 and Peter Burrill selling 10,907 shares, while company insiders collectively own 0.38% of the stock.

Standard Chartered PLC (LON:STAN - Get Free Report)'s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 1,683.80 and traded as high as GBX 1,776. Standard Chartered shares last traded at GBX 1,750.10, with a volume of 4,985,897 shares traded.

Analyst Ratings Changes

A number of research firms recently weighed in on STAN. Deutsche Bank Aktiengesellschaft increased 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. Citigroup increased their price objective on shares of Standard Chartered from GBX 1,675 to GBX 1,775 and gave the stock a "neutral" rating in a research report on Friday, January 9th. Finally, JPMorgan Chase & Co. increased 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. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Standard Chartered currently has an average rating of "Hold" and an average target price of GBX 1,800.

Standard Chartered Trading Down 0.4%

The company has a market capitalization of £38.76 billion, a PE ratio of 9.23, a price-to-earnings-growth ratio of 0.80 and a beta of 0.52. The stock's 50-day moving average is GBX 1,682.61 and its two-hundred day moving average is GBX 1,683.80.

Insider Buying and Selling

In related news, insider Bill Winters bought 86,027 shares of Standard Chartered stock in a transaction dated 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. Also, insider Peter Burrill sold 10,907 shares of the firm's 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. Company insiders own 0.38% of the company's stock.

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.