Standard Chartered (LON:STAN) Reaches New 12-Month High – Here’s What Happened

Standard Chartered PLC (LON:STAN)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as GBX 847.20 ($11.00) and last traded at GBX 847.20 ($11.00), with a volume of 4990964 shares traded. The stock had previously closed at GBX 836.60 ($10.86).

Analyst Upgrades and Downgrades

Several research firms recently issued reports on STAN. Berenberg Bank restated a “buy” rating and set a GBX 1,100 ($14.28) price objective on shares of Standard Chartered in a research report on Wednesday, August 21st. JPMorgan Chase & Co. raised their price target on shares of Standard Chartered from GBX 1,000 ($12.98) to GBX 1,020 ($13.24) and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Citigroup reiterated a “neutral” rating on shares of Standard Chartered in a report on Monday, September 2nd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of GBX 979.67 ($12.72).

Standard Chartered Trading Up 1.3 %

The business has a fifty day moving average price of GBX 774.90 and a 200 day moving average price of GBX 742.68. The firm has a market cap of £20.76 billion, a PE ratio of 961.61, a P/E/G ratio of 0.80 and a beta of 0.85.

Standard Chartered Cuts Dividend

The company also recently announced a dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, August 8th were issued a $0.09 dividend. This represents a dividend yield of 0.96%. The ex-dividend date of this dividend was Thursday, August 8th. Standard Chartered’s payout ratio is currently 2,643.68%.

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.