Standard Chartered PLC (LON:STAN) Given Average Rating of “Moderate Buy” by Brokerages

Standard Chartered PLC (LON:STAN) has received an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is GBX 964.67 ($12.01).

STAN has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Standard Chartered from GBX 850 ($10.58) to GBX 900 ($11.20) and gave the company an “overweight” rating in a research note on Thursday, April 11th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 1,300 ($16.18) price target on shares of Standard Chartered in a research note on Thursday. Shore Capital reaffirmed a “buy” rating on shares of Standard Chartered in a research note on Friday, February 23rd. Berenberg Bank upped their price target on shares of Standard Chartered from GBX 1,000 ($12.45) to GBX 1,050 ($13.07) and gave the stock a “buy” rating in a research note on Friday, February 23rd. Finally, Keefe, Bruyette & Woods raised shares of Standard Chartered to a “market perform” rating and set a GBX 790 ($9.83) price target on the stock in a research note on Monday, February 12th.

Insider Buying and Selling

In related news, insider Bill Winters sold 24,101 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of GBX 665 ($8.28), for a total value of £160,271.65 ($199,516.56). 0.31% of the stock is currently owned by corporate insiders.

Standard Chartered Price Performance

STAN opened at GBX 663.40 ($8.26) on Monday. The company has a market capitalization of £17.38 billion, a price-to-earnings ratio of 793.81, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. Standard Chartered has a 1-year low of GBX 571 ($7.11) and a 1-year high of GBX 766.60 ($9.54). The business has a 50 day moving average price of GBX 654.32 and a two-hundred day moving average price of GBX 650.65.

Standard Chartered Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, May 17th. Investors of record on Thursday, March 7th will be issued a $0.21 dividend. The ex-dividend date is Thursday, March 7th. This is a boost from Standard Chartered’s previous dividend of $0.06. This represents a yield of 2.74%. Standard Chartered’s dividend payout ratio is currently 2,500.00%.

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.