Standard Chartered (LON:STAN) Reaches New 52-Week High – Here’s Why

Standard Chartered PLC (LON:STAN)’s stock price reached a new 52-week high on Wednesday . The company traded as high as GBX 1,990 and last traded at GBX 1,978.50, with a volume of 11681619 shares changing hands. The stock had previously closed at GBX 1,946.

Analyst Ratings Changes

STAN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Standard Chartered from GBX 2,200 to GBX 2,220 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Shore Capital Group upgraded shares of Standard Chartered to a “sell” rating in a research note on Friday, May 1st. UBS Group reiterated a “buy” rating and issued a GBX 2,130 target price on shares of Standard Chartered in a research note on Monday, May 18th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a GBX 2,250 target price on shares of Standard Chartered in a research note on Thursday, April 30th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of GBX 1,938.33.

Standard Chartered Trading Up 1.1%

The company has a market capitalization of £44.01 billion, a PE ratio of 9.69, a price-to-earnings-growth ratio of 0.80 and a beta of 0.60. The business’s 50-day simple moving average is GBX 1,743.58 and its 200-day simple moving average is GBX 1,746.44.

Insider Buying and Selling

In other Standard Chartered news, insider Peter Burrill sold 10,907 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of GBX 1,554, for a total transaction of £169,494.78. Also, insider Bill Winters purchased 86,027 shares of Standard Chartered stock in a transaction on Thursday, March 19th. The shares were acquired at an average cost of GBX 1,507 per share, with a total value of £1,296,426.89. Company insiders own 0.38% of the company’s stock.

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. It offers retail products, such as deposits, mortgages, credit cards, and personal loans; wealth management products and services that include investments, portfolio management, insurance, and wealth advice; and transaction banking services, such as cash management, working capital, and trade financing products.