Standard Chartered (LON:STAN) Stock Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Standard Chartered shares rose above their 200-day moving average, reaching GBX 2,237 and last trading at GBX 2,218, compared with a 200-day average of GBX 1,879.88.
• Analysts remain broadly positive, with an average rating of “Moderate Buy” and an average price target of GBX 2,278. Recent targets range from GBX 2,130 to GBX 2,450.
• Chief Group Executive Bill Winters purchased 300,000 shares for approximately £6.66 million at an average price of GBX 2,221, while insiders collectively own 0.39% of the company.

Standard Chartered PLC (LON:STAN - Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 1,879.88 and traded as high as GBX 2,237. Standard Chartered shares last traded at GBX 2,218, with a volume of 4,491,784 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on STAN. Citigroup upped their price target on shares of Standard Chartered from GBX 2,130 to GBX 2,230 and gave the stock a "neutral" rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. lifted their price objective on Standard Chartered from GBX 2,270 to GBX 2,330 and gave the stock an "overweight" rating in a report on Monday, August 3rd. UBS Group reiterated a "buy" rating and set a GBX 2,130 price objective on shares of Standard Chartered in a research note on Monday, May 18th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a GBX 2,450 target price on shares of Standard Chartered in a report on Thursday, July 30th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a GBX 2,250 price target on shares of Standard Chartered in a research note on Wednesday, July 29th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Standard Chartered has an average rating of "Moderate Buy" and an average target price of GBX 2,278.

Standard Chartered Price Performance

The company has a market cap of £48.56 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 0.80 and a beta of 0.60. The firm has a 50 day simple moving average of GBX 2,080.81 and a 200-day simple moving average of GBX 1,879.88.

Insider Buying and Selling at Standard Chartered

In other Standard Chartered news, Chief Group Executive Bill Winters acquired 300,000 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was purchased at an average cost of GBX 2,221 per share, with a total value of £6,663,000. Corporate insiders own 0.39% 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. 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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