Standard Chartered (LON:STAN) Sets New 1-Year High at $119.50

Shares of Standard Chartered PLC (LON:STAN) reached a new 52-week high during trading on Monday . The company traded as high as GBX 119.50 ($1.55) and last traded at GBX 762 ($9.90), with a volume of 3953641 shares. The stock had previously closed at GBX 762.40 ($9.91).

Wall Street Analyst Weigh In

Several research firms have recently weighed in on STAN. Citigroup restated a “neutral” rating on shares of Standard Chartered in a research report on Monday, July 8th. Barclays increased their target price on Standard Chartered from GBX 750 ($9.75) to GBX 800 ($10.40) and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. lifted their price target on Standard Chartered from GBX 1,000 ($12.99) to GBX 1,020 ($13.25) and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of GBX 971.33 ($12.62).

Standard Chartered Stock Down 0.7 %

The firm’s 50-day simple moving average is GBX 726.39 and its 200-day simple moving average is GBX 701.81. The firm has a market capitalization of £18.69 billion, a PE ratio of 846.14, a price-to-earnings-growth ratio of 0.85 and a beta of 0.87.

Standard Chartered Cuts Dividend

The business also recently announced a dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, August 8th will be issued a dividend of $0.09 per share. This represents a yield of 0.96%. The ex-dividend date of this dividend is Thursday, August 8th. Standard Chartered’s dividend payout ratio is presently 2,727.27%.

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.