Standard Chartered (LON:STAN) Trading Down 9.8% - Should You Sell?

Shares of Standard Chartered PLC (LON:STAN - Get Free Report) were down 9.8% on Thursday . The stock traded as low as GBX 999 ($12.72) and last traded at GBX 1,039.38 ($13.23). Approximately 646,990,750 shares were traded during mid-day trading, an increase of 2,485% from the average daily volume of 25,029,953 shares. The stock had previously closed at GBX 1,152.50 ($14.67).

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on STAN shares. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a GBX 970 ($12.35) target price on shares of Standard Chartered in a report on Monday, February 24th. Citigroup increased their price objective on Standard Chartered from GBX 1,170 ($14.89) to GBX 1,250 ($15.91) and gave the stock a "neutral" rating in a research note on Thursday, March 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Standard Chartered presently has a consensus rating of "Moderate Buy" and an average price target of GBX 1,073.33 ($13.66).

Standard Chartered Trading Down 2.3 %

The firm has a market capitalization of £27.65 billion, a price-to-earnings ratio of 8.25, a P/E/G ratio of 0.80 and a beta of 0.85. The firm has a fifty day moving average price of GBX 1,146.94 and a 200 day moving average price of GBX 1,001.20.

Standard Chartered Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, May 19th. Shareholders of record on Thursday, March 27th will be paid a $0.28 dividend. The ex-dividend date is Thursday, March 27th. This represents a yield of 1.79%. This is a positive change from Standard Chartered's previous dividend of $0.09. Standard Chartered's payout ratio is currently 20.71%.

Insider Activity

In other Standard Chartered news, insider Bill Winters sold 41,190 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of GBX 12 ($0.15), for a total transaction of £4,942.80 ($6,291.75). Over the last ninety days, insiders sold 144,361 shares of company stock worth $122,238,845. 1.43% of the stock is owned by corporate insiders.

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.