Standard Chartered (LON:STAN) Shares Down 0.6% - Here's What Happened

Key Points

• Standard Chartered PLC's stock price decreased by 0.6% to GBX 1,398 ($18.91) during trading on Friday, with an increased trading volume of approximately 11 million shares.
• JPMorgan Chase raised its price target for Standard Chartered from GBX 1,390 to GBX 1,490, while Shore Capital increased theirs from GBX 1,270 to GBX 1,355, with the latter maintaining a "hold" rating.
• The stock has a market cap of £42.21 billion and a consensus rating of "Hold," indicating mixed sentiment among analysts regarding its future performance.

Standard Chartered PLC (LON:STAN - Get Free Report)'s stock price fell 0.6% during mid-day trading on Friday . The company traded as low as GBX 1,285 ($17.34) and last traded at GBX 1,398 ($18.86). 11,239,921 shares were traded during trading, an increase of 11% from the average session volume of 10,161,736 shares. The stock had previously closed at GBX 1,407 ($18.98).

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on STAN. JPMorgan Chase & Co. boosted their price objective on Standard Chartered from GBX 1,390 to GBX 1,490 and gave the stock an "overweight" rating in a report on Tuesday, August 5th. Shore Capital boosted their price objective on Standard Chartered from GBX 1,270 to GBX 1,355 and gave the stock a "hold" rating in a report on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of GBX 1,233.

Standard Chartered Stock Up 0.4%

The firm has a market capitalization of £40.72 billion, a P/E ratio of 12.14, a PEG ratio of 0.80 and a beta of 0.85. The firm has a 50 day moving average of GBX 1,284.11 and a 200-day moving average of GBX 1,175.77.

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.