Standard Chartered (LON:STAN) Reaches New 52-Week High – Here’s Why

Shares of Standard Chartered PLC (LON:STAN) reached a new 52-week high during trading on Wednesday . The stock traded as high as GBX 1,990 and last traded at GBX 1,978.50, with a volume of 11681619 shares. The stock had previously closed at GBX 1,946.

Analyst Upgrades and Downgrades

STAN has been the topic of several recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 2,250 price target on shares of Standard Chartered in a research note on Thursday, April 30th. UBS Group reiterated a “buy” rating and set a GBX 2,130 target price on shares of Standard Chartered in a report on Monday, May 18th. Shore Capital Group upgraded shares of Standard Chartered to a “sell” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. increased their target price on shares of Standard Chartered from GBX 2,200 to GBX 2,220 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of GBX 1,938.33.

Standard Chartered Stock Performance

The company’s fifty day simple moving average is GBX 1,743.58 and its 200-day simple moving average is GBX 1,746.44. The company has a market capitalization of £44.01 billion, a P/E ratio of 9.69, a PEG ratio of 0.80 and a beta of 0.60.

Insider Transactions at Standard Chartered

In other news, insider Bill Winters purchased 86,027 shares of the stock in a transaction dated Thursday, March 19th. The shares were acquired at an average cost of GBX 1,507 per share, for a total transaction of £1,296,426.89. Also, insider Peter Burrill sold 10,907 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of GBX 1,554, for a total transaction of £169,494.78. 0.38% of the stock is currently owned by company insiders.

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. 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.