Standard Chartered (LON:STAN) Hits New 52-Week High – Time to Buy?

Standard Chartered PLC (LON:STAN)’s stock price reached a new 52-week high on Monday. The company traded as high as GBX 2,347 and last traded at GBX 2,343, with a volume of 25771463 shares. The stock had previously closed at GBX 2,313.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 2,450 price objective on shares of Standard Chartered in a research report on Thursday, July 30th. JPMorgan Chase & Co. lifted their price target on shares of Standard Chartered from GBX 2,330 to GBX 2,470 and gave the company an “overweight” rating in a research note on Tuesday, September 8th. Jefferies Financial Group reissued a “buy” rating and set a GBX 2,250 price target on shares of Standard Chartered in a research report on Wednesday, July 29th. Finally, Citigroup increased their price objective on shares of Standard Chartered from GBX 2,230 to GBX 2,370 and gave the stock a “neutral” rating in a research note on Wednesday, September 23rd. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of GBX 2,334.

Standard Chartered Price Performance

The firm has a market capitalization of £50.96 billion, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 0.80 and a beta of 0.59. The business’s 50-day moving average is GBX 2,221.99 and its 200 day moving average is GBX 1,990.84.

Insider Buying and Selling

In other news, Chief Group Executive Bill Winters bought 300,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was bought at an average cost of GBX 2,221 per share, for a total transaction of £6,663,000. 0.38% of the stock is currently owned by company insiders.

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. 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.