Standard Chartered (LON:STAN) Shares Down 9.8% – Here’s Why

Standard Chartered PLC (LON:STAN) shares fell 9.8% during mid-day trading on Thursday . The stock traded as low as GBX 999 ($13.09) and last traded at GBX 1,039.38 ($13.62). 646,990,750 shares traded hands during mid-day 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 ($15.10).

Wall Street Analyst Weigh In

STAN has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a GBX 970 ($12.71) target price on shares of Standard Chartered in a research note on Monday, February 24th. Citigroup raised their price objective on shares of Standard Chartered from GBX 1,170 ($15.33) to GBX 1,250 ($16.38) and gave the company a “neutral” rating in a report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Standard Chartered presently has an average rating of “Moderate Buy” and a consensus target price of GBX 1,073.33 ($14.06).

Standard Chartered Price Performance

The company’s 50 day simple moving average is GBX 1,152.17 and its 200 day simple moving average is GBX 995.36. The company has a market capitalization of £31.38 billion, a PE ratio of 9.36, a price-to-earnings-growth ratio of 0.80 and a beta of 0.85.

Standard Chartered Increases Dividend

The business also recently declared a dividend, which will be paid on Monday, May 19th. Investors 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 yield of 1.79%. The ex-dividend date is Thursday, March 27th. Standard Chartered’s dividend payout ratio (DPR) is currently 20.71%.

Insider Buying and Selling at Standard Chartered

In other Standard Chartered news, insider Bill Winters bought 33,453 shares of the stock in a transaction dated Friday, March 14th. The shares were acquired at an average cost of GBX 1,158 ($15.17) per share, for a total transaction of £387,385.74 ($507,580.90). Insiders sold 144,361 shares of company stock worth $122,238,845 over 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.