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

Standard Chartered PLC (LON:STAN) was down 9.8% during mid-day trading on Thursday . The company traded as low as GBX 999 ($12.89) and last traded at GBX 1,039.38 ($13.41). Approximately 646,990,750 shares were traded during mid-day trading, an increase of 2,485% from the average daily volume of 25,029,953 shares. The stock had previously closed at GBX 1,152.50 ($14.87).

Analyst Ratings Changes

Several brokerages recently issued reports on STAN. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a GBX 970 ($12.51) price target on shares of Standard Chartered in a research note on Monday, February 24th. Citigroup boosted their price target on Standard Chartered from GBX 1,170 ($15.09) to GBX 1,250 ($16.12) and gave the company a “neutral” rating in a research note on Thursday, March 6th. Three equities research 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 a consensus rating of “Moderate Buy” and an average target price of GBX 1,073.33 ($13.85).

Standard Chartered Trading Down 5.5 %

The stock’s 50-day moving average price is GBX 1,149.52 and its two-hundred day moving average price is GBX 996.55. The stock has a market capitalization of £28.50 billion, a P/E ratio of 8.50, a P/E/G ratio of 0.80 and a beta of 0.85.

Standard Chartered Increases Dividend

The company also recently disclosed a dividend, which will be paid on Monday, May 19th. Stockholders of record on Thursday, March 27th will be given a $0.28 dividend. This is a positive change from Standard Chartered’s previous dividend of $0.09. This represents a dividend yield of 1.79%. The ex-dividend date of this dividend is Thursday, March 27th. Standard Chartered’s dividend payout ratio (DPR) is 20.71%.

Insider Activity at Standard Chartered

In other Standard Chartered news, insider Bill Winters sold 41,190 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of GBX 12 ($0.15), for a total value of £4,942.80 ($6,376.16). Insiders have sold 144,361 shares of company stock valued at $122,238,845 over the last three months. 1.43% of the stock is owned by corporate 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.