Standard Chartered (LON:STAN) Stock Price Down 9.8% – Time to Sell?

Shares of Standard Chartered PLC (LON:STAN) fell 9.8% on Thursday . The stock traded as low as GBX 999 ($12.89) and last traded at GBX 1,039.38 ($13.41). 646,990,750 shares changed hands during 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 ($14.87).

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on STAN shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 970 ($12.51) target price on shares of Standard Chartered in a research note on Monday, February 24th. Citigroup increased their target price on Standard Chartered from GBX 1,170 ($15.09) to GBX 1,250 ($16.12) and gave the stock a “neutral” rating in a report on Thursday, March 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of GBX 1,073.33 ($13.85).

Standard Chartered Trading Down 5.5 %

The firm has a market cap of £28.50 billion, a P/E ratio of 8.50, a P/E/G ratio of 0.80 and a beta of 0.85. The business’s 50-day moving average is GBX 1,149.52 and its two-hundred day moving average is GBX 996.55.

Standard Chartered Increases Dividend

The business also recently declared 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 boost from Standard Chartered’s previous dividend of $0.09. The ex-dividend date of this dividend is Thursday, March 27th. Standard Chartered’s dividend payout ratio is presently 20.71%.

Insider Buying and Selling

In other 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 purchased at an average cost of GBX 1,158 ($14.94) per share, for a total transaction of £387,385.74 ($499,723.61). In the last 90 days, insiders have sold 144,361 shares of company stock valued at $122,238,845. Insiders own 1.43% 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.