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

Standard Chartered PLC (LON:STAN) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 993.95 ($12.85) and traded as high as GBX 1,155 ($14.93). Standard Chartered shares last traded at GBX 1,145.37 ($14.81), with a volume of 5,358,164 shares.

Analyst Upgrades and Downgrades

STAN has been the subject of a number of research reports. Citigroup increased their price target on Standard Chartered from GBX 1,170 ($15.13) to GBX 1,250 ($16.16) and gave the company a “neutral” rating in a research note on Thursday, March 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a GBX 970 ($12.54) target price on shares of Standard Chartered in a report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of GBX 1,073.33 ($13.88).

Standard Chartered Stock Up 0.5 %

The company has a market cap of £34.58 billion, a P/E ratio of 10.31, a PEG ratio of 0.80 and a beta of 0.85. The firm’s 50 day moving average is GBX 1,151.34 and its two-hundred day moving average is GBX 993.95.

Standard Chartered Increases Dividend

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

Insider Transactions at Standard Chartered

In other news, insider Bill Winters bought 33,453 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average price of GBX 1,158 ($14.97) per share, with a total value of £387,385.74 ($500,821.90). Insiders sold 144,361 shares of company stock worth $122,238,845 over the last ninety days. 1.43% of the stock is owned by insiders.

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.