Standard Chartered (LON:STAN) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Standard Chartered PLC (LON:STAN) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,721.81 and traded as high as GBX 1,885.50. Standard Chartered shares last traded at GBX 1,882.48, with a volume of 3,918,355 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Standard Chartered from GBX 1,700 to GBX 1,900 and gave the company a “hold” rating in a report on Friday, January 23rd. Jefferies Financial Group reissued a “buy” rating and set a GBX 2,250 price objective on shares of Standard Chartered in a report on Thursday, April 30th. Shore Capital Group raised Standard Chartered to a “sell” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. raised their price objective on Standard Chartered from GBX 2,200 to GBX 2,220 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of GBX 1,900.

Standard Chartered Stock Down 1.2%

The stock has a market cap of £41.56 billion, a PE ratio of 9.15, a P/E/G ratio of 0.80 and a beta of 0.60. The company has a fifty day moving average price of GBX 1,702.62 and a 200 day moving average price of GBX 1,726.39.

Insider Buying and Selling at Standard Chartered

In related news, insider Peter Burrill sold 10,907 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of GBX 1,554, for a total transaction of £169,494.78. Also, insider Bill Winters acquired 86,027 shares of Standard Chartered stock in a transaction that occurred on Thursday, March 19th. The shares were bought at an average cost of GBX 1,507 per share, with a total value of £1,296,426.89. 0.38% 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. 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.