Standard Chartered (LON:STAN) Shares Pass Above 200 Day Moving Average – Here’s Why

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 1,771.34 and traded as high as GBX 1,944. Standard Chartered shares last traded at GBX 1,811, with a volume of 1,549,345,625 shares.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Standard Chartered from GBX 2,200 to GBX 2,220 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. UBS Group reiterated a “buy” rating and issued a GBX 2,130 target price on shares of Standard Chartered in a report on Monday, May 18th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 2,250 target price on shares of Standard Chartered in a report on Thursday, April 30th. Finally, Shore Capital Group upgraded Standard Chartered to a “sell” rating in a report on Friday, May 1st. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Standard Chartered presently has a consensus rating of “Hold” and an average price target of GBX 1,938.33.

Standard Chartered Price Performance

The firm has a market capitalization of £40.48 billion, a P/E ratio of 8.97, a P/E/G ratio of 0.80 and a beta of 0.61. The stock has a fifty day simple moving average of GBX 1,833.37 and a two-hundred day simple moving average of GBX 1,774.92.

Insider Buying and Selling

In related news, insider Bill Winters bought 86,027 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The shares were bought at an average price of GBX 1,507 per share, with a total value of £1,296,426.89. Also, insider Peter Burrill sold 10,907 shares of Standard Chartered stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of GBX 1,554, for a total value of £169,494.78. Company insiders own 0.39% 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. It offers retail products, such as deposits, mortgages, credit cards, and personal loans; wealth management products and services that include investments, portfolio management, insurance, and wealth advice; and transaction banking services, such as cash management, working capital, and trade financing products.