Standard Chartered (LON:STAN) Reaches New 1-Year High – Here’s What Happened

Standard Chartered PLC (LON:STAN) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 1,938.23 and last traded at GBX 1,934, with a volume of 17763574 shares trading hands. The stock had previously closed at GBX 1,927.50.

Analyst Upgrades and Downgrades

STAN has been the subject of several analyst reports. Jefferies Financial Group reissued a “buy” rating and set a GBX 2,250 price target on shares of Standard Chartered in a report on Thursday, April 30th. Shore Capital Group raised shares of Standard Chartered to a “sell” rating in a report on Friday, May 1st. UBS Group reissued a “buy” rating and set a GBX 2,130 price target on shares of Standard Chartered in a report on Monday, May 18th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Standard Chartered from GBX 1,700 to GBX 1,900 and gave the company a “hold” rating in a report on Friday, January 23rd. Finally, JPMorgan Chase & Co. boosted 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. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of GBX 1,938.33.

Standard Chartered Price Performance

The firm has a market cap of £42.82 billion, a price-to-earnings ratio of 9.42, a P/E/G ratio of 0.80 and a beta of 0.60. The firm’s fifty day moving average is GBX 1,728.11 and its two-hundred day moving average is GBX 1,740.02.

Insider Activity

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

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. 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.