Brokerages Set Standard Chartered PLC (LON:STAN) Target Price at GBX 710

Standard Chartered PLC (LON:STAN – Get Rating) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is GBX 734 ($8.99).

Several equities research analysts have commented on STAN shares. Shore Capital reiterated a “buy” rating on shares of Standard Chartered in a research note on Friday, July 29th. Barclays upped their price target on Standard Chartered from GBX 780 ($9.56) to GBX 800 ($9.80) and gave the company an “equal weight” rating in a research report on Thursday. Berenberg Bank restated a “buy” rating and issued a GBX 750 ($9.19) price target on shares of Standard Chartered in a research report on Monday, August 1st. JPMorgan Chase & Co. upped their price target on Standard Chartered from GBX 690 ($8.45) to GBX 730 ($8.94) and gave the company an “overweight” rating in a research report on Thursday, May 19th. Finally, Morgan Stanley restated an “equal weight” rating on shares of Standard Chartered in a research report on Wednesday, May 11th.

Standard Chartered Trading Up 0.9 %

LON:STAN opened at GBX 608 ($7.45) on Friday. Standard Chartered has a 12 month low of GBX 406.20 ($4.98) and a 12 month high of GBX 641 ($7.85). The stock has a 50 day moving average of GBX 596.41 and a two-hundred day moving average of GBX 554.99. The firm has a market cap of £18.04 billion and a P/E ratio of 1,169.23.

Standard Chartered Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, August 11th will be given a $0.04 dividend. The ex-dividend date of this dividend is Thursday, August 11th. This represents a yield of 0.58%. Standard Chartered’s payout ratio is 23.08%.

Insider Buying and Selling

In other Standard Chartered news, insider Shirish Moreshwar Apte acquired 2,000 shares of the stock in a transaction that occurred on Monday, May 30th. The stock was bought at an average cost of GBX 630 ($7.72) per share, for a total transaction of £12,600 ($15,439.28).

Standard Chartered Company Profile

(Get Rating)

Standard Chartered PLC, together with its subsidiaries, provides various banking products and services primarily in Asia, Africa, Europe, the Americas, and the Middle East. The company operates through two segments: Corporate, Commercial and Institutional Banking; and Consumer, Private and Business Banking.