Standard Chartered PLC (LON:STAN) Receives Average Recommendation of “Buy” from Analysts

Standard Chartered PLC (LON:STAN) has earned a consensus recommendation of “Buy” from the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is GBX 535.57 ($7.00).

A number of equities analysts have weighed in on the stock. Barclays reiterated an “underweight” rating and issued a GBX 490 ($6.40) price target on shares of Standard Chartered in a report on Monday, July 19th. JPMorgan Chase & Co. lifted their price target on shares of Standard Chartered from GBX 580 ($7.58) to GBX 640 ($8.36) and gave the stock an “overweight” rating in a research note on Friday, June 18th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 230 ($3.00) price target on shares of Standard Chartered in a research note on Monday, May 24th. Citigroup reaffirmed a “neutral” rating and set a GBX 490 ($6.40) price target on shares of Standard Chartered in a research note on Friday, August 6th. Finally, Shore Capital reaffirmed a “buy” rating on shares of Standard Chartered in a research note on Tuesday, August 3rd.

LON STAN traded up GBX 1.80 ($0.02) during mid-day trading on Wednesday, reaching GBX 441 ($5.76). 7,476,299 shares of the stock were exchanged, compared to its average volume of 5,784,292. Standard Chartered has a 1-year low of GBX 334.25 ($4.37) and a 1-year high of GBX 533.20 ($6.97). The business’s fifty day simple moving average is GBX 447.70 and its 200 day simple moving average is GBX 476.94. The stock has a market capitalization of £13.64 billion and a PE ratio of 15.80.

The firm also recently disclosed a dividend, which will be paid on Friday, October 22nd. Investors of record on Thursday, August 12th will be given a dividend of $0.03 per share. This represents a dividend yield of 0.49%. The ex-dividend date is Thursday, August 12th. Standard Chartered’s dividend payout ratio is presently 0.32%.

In other news, insider José Viñals bought 11,500 shares of Standard Chartered stock in a transaction on Tuesday, August 31st. The stock was purchased at an average cost of GBX 452 ($5.91) per share, with a total value of £51,980 ($67,912.20). Also, insider Naguib Kheraj bought 60,000 shares of Standard Chartered stock in a transaction on Thursday, August 5th. The shares were purchased at an average cost of GBX 449 ($5.87) per share, with a total value of £269,400 ($351,972.82).

Standard Chartered Company Profile

Standard Chartered PLC, together with its subsidiaries, provides various banking products and services primarily in Asia, Africa, Europe, the Americas, and the Middle East. The company operates through Corporate & Institutional Banking, Retail banking, Commercial Banking, and Private Banking segments.

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Analyst Recommendations for Standard Chartered (LON:STAN)

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