Standard Chartered (LON:STAN) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Standard Chartered PLC (LON:STAN)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 742.68 ($9.64) and traded as high as GBX 843.80 ($10.96). Standard Chartered shares last traded at GBX 836.60 ($10.86), with a volume of 3,106,172 shares.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on STAN shares. Berenberg Bank reissued a “buy” rating and issued a GBX 1,100 ($14.28) target price on shares of Standard Chartered in a research note on Wednesday, August 21st. JPMorgan Chase & Co. upped their price target on Standard Chartered from GBX 1,000 ($12.98) to GBX 1,020 ($13.24) and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Citigroup reissued a “neutral” rating on shares of Standard Chartered in a research note on Monday, September 2nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of GBX 979.67 ($12.72).

Standard Chartered Price Performance

The stock has a market cap of £20.50 billion, a P/E ratio of 961.61, a price-to-earnings-growth ratio of 0.80 and a beta of 0.85. The stock’s 50 day simple moving average is GBX 774.90 and its two-hundred day simple moving average is GBX 742.68.

Standard Chartered Cuts Dividend

The company also recently announced a dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, August 8th were issued a dividend of $0.09 per share. This represents a yield of 0.96%. The ex-dividend date was Thursday, August 8th. Standard Chartered’s dividend payout ratio (DPR) is presently 2,643.68%.

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.