Shares of Standard Chartered PLC (LON:STAN) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $660.67 and traded as high as $622.20. Standard Chartered shares last traded at $620.20, with a volume of 5,948,126 shares changing hands.
STAN has been the topic of several analyst reports. Investec lowered Standard Chartered to a “sell” rating in a research note on Friday, June 28th. Deutsche Bank restated a “hold” rating on shares of Standard Chartered in a research report on Friday, August 2nd. Royal Bank of Canada lowered Standard Chartered to an “underperform” rating and increased their price target for the stock from GBX 460 ($6.01) to GBX 580 ($7.58) in a research report on Tuesday, April 30th. Shore Capital reaffirmed a “buy” rating on shares of Standard Chartered in a report on Thursday, August 1st. Finally, Goldman Sachs Group reaffirmed a “conviction-buy” rating and set a GBX 970 ($12.67) price objective (down previously from GBX 980 ($12.81)) on shares of Standard Chartered in a report on Tuesday, August 13th. Six analysts have rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Standard Chartered currently has a consensus rating of “Hold” and a consensus target price of GBX 708.77 ($9.26).
The firm has a fifty day simple moving average of GBX 678.45 and a 200-day simple moving average of GBX 660.67. The stock has a market cap of $19.93 billion and a price-to-earnings ratio of 39.01.
In other news, insider Andrew Nigel (Andy) Halford acquired 23,701 shares of Standard Chartered stock in a transaction on Monday, June 24th. The shares were purchased at an average price of GBX 703 ($9.19) per share, with a total value of £166,618.03 ($217,715.97).
About Standard Chartered (LON:STAN)
Standard Chartered PLC., together with its subsidiaries, provides various banking products and services primarily in Asia, Africa, and the Middle East. The company operates through Corporate & Institutional Banking, Retail banking, Commercial Banking, and Private Banking segments. It offers retail products, such as deposits, savings, mortgages, credit cards, and personal loans; wealth management that include investments, portfolio management, insurance and advices, and planning services; and transaction banking services, such as cash management, payments and transactions, securities services, and trade financing products.
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