Standard Chartered (LON:STAN) Share Price Crosses Above Two Hundred Day Moving Average of $717.47

Standard Chartered PLC (LON:STAN) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 717.47 ($9.38) and traded as high as GBX 771.08 ($10.08). Standard Chartered shares last traded at GBX 749.80 ($9.81), with a volume of 5,865,066 shares.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on STAN shares. Berenberg Bank restated a “buy” rating and issued a GBX 1,100 ($14.38) price objective on shares of Standard Chartered in a research note on Wednesday, August 21st. Citigroup restated a “neutral” rating on shares of Standard Chartered in a research note on Monday, September 2nd. Finally, JPMorgan Chase & Co. upped their price objective on Standard Chartered from GBX 1,000 ($13.08) to GBX 1,020 ($13.34) and gave the company an “overweight” rating in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of GBX 979.67 ($12.81).

Standard Chartered Price Performance

The company has a market cap of £18.90 billion, a P/E ratio of 872.41, a PEG ratio of 0.82 and a beta of 0.85. The business’s 50 day moving average price is GBX 737.22 and its 200-day moving average price is GBX 719.40.

Standard Chartered Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, August 8th will be given a $0.09 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a yield of 0.96%. Standard Chartered’s payout ratio is 2,758.62%.

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.