Standard Chartered (LON:STAN) Stock Price Down 9.8% – Should You Sell?

Standard Chartered PLC (LON:STAN)’s stock price traded down 9.8% during mid-day trading on Thursday . The stock traded as low as GBX 999 ($13.09) and last traded at GBX 1,039.38 ($13.62). 646,990,750 shares changed hands during mid-day trading, an increase of 2,485% from the average session volume of 25,029,953 shares. The stock had previously closed at GBX 1,152.50 ($15.10).

Wall Street Analyst Weigh In

STAN has been the subject of a number of recent research reports. Citigroup increased their target price on Standard Chartered from GBX 1,170 ($15.33) to GBX 1,250 ($16.38) and gave the stock a “neutral” rating in a report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a GBX 970 ($12.71) target price on shares of Standard Chartered in a research report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Standard Chartered currently has an average rating of “Moderate Buy” and a consensus price target of GBX 1,073.33 ($14.06).

Standard Chartered Stock Down 9.8 %

The stock has a fifty day moving average of GBX 1,153.06 and a 200-day moving average of GBX 995.05. The firm has a market capitalization of £31.38 billion, a P/E ratio of 9.36, a PEG ratio of 0.80 and a beta of 0.85.

Standard Chartered Increases Dividend

The business also recently announced a dividend, which will be paid on Monday, May 19th. Stockholders of record on Thursday, March 27th will be given a dividend of $0.28 per share. This represents a dividend yield of 1.79%. This is a positive change from Standard Chartered’s previous dividend of $0.09. The ex-dividend date is Thursday, March 27th. Standard Chartered’s dividend payout ratio is presently 20.71%.

Insider Activity at Standard Chartered

In other Standard Chartered news, insider Bill Winters acquired 33,453 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average cost of GBX 1,158 ($15.17) per share, for a total transaction of £387,385.74 ($507,580.90). Insiders sold a total of 144,361 shares of company stock valued at $122,238,845 over the last quarter. Corporate insiders own 1.43% 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.