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

Standard Chartered PLC (LON:STAN)’s stock price was down 9.8% during trading on Thursday . The company traded as low as GBX 999 ($12.89) and last traded at GBX 1,039.38 ($13.41). Approximately 646,990,750 shares traded hands during mid-day trading, an increase of 2,485% from the average daily volume of 25,029,953 shares. The stock had previously closed at GBX 1,152.50 ($14.87).

Analyst Ratings Changes

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

Standard Chartered Trading Down 5.5 %

The stock has a market capitalization of £28.50 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 0.80 and a beta of 0.85. The firm’s fifty day moving average price is GBX 1,149.52 and its two-hundred day moving average price is GBX 996.55.

Standard Chartered Increases Dividend

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

Insider Activity at Standard Chartered

In related news, insider Bill Winters sold 41,190 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of GBX 12 ($0.15), for a total value of £4,942.80 ($6,376.16). Insiders sold a total of 144,361 shares of company stock worth $122,238,845 in the last 90 days. Corporate 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.