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

Shares of Standard Chartered PLC (LON:STANGet Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 1,879.88 and traded as high as GBX 2,237. Standard Chartered shares last traded at GBX 2,218, with a volume of 4,491,784 shares trading hands.

Trending Headlines about Standard Chartered

Here are the key news stories impacting Standard Chartered this week:

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. UBS Group reiterated a “buy” rating and set a GBX 2,130 price objective on shares of Standard Chartered in a research report on Monday, May 18th. JPMorgan Chase & Co. upped their target price on Standard Chartered from GBX 2,270 to GBX 2,330 and gave the company an “overweight” rating in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 2,450 target price on shares of Standard Chartered in a research note on Thursday, July 30th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 2,250 price target on shares of Standard Chartered in a research note on Wednesday, July 29th. Finally, Citigroup lifted their price target on shares of Standard Chartered from GBX 2,130 to GBX 2,230 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 2,278.

Check Out Our Latest Stock Report on Standard Chartered

Standard Chartered Stock Down 0.1%

The company’s 50-day moving average is GBX 2,085.07 and its two-hundred day moving average is GBX 1,882.48. The company has a market cap of £48.67 billion, a P/E ratio of 10.52, a price-to-earnings-growth ratio of 0.80 and a beta of 0.60.

Insider Activity at Standard Chartered

In other news, Chief Group Executive Bill Winters purchased 300,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were purchased at an average price of GBX 2,221 per share, with a total value of £6,663,000. 0.39% of the stock is owned by corporate insiders.

Standard Chartered Company Profile

(Get Free Report)

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.

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