Standard Chartered (LON:STAN) Share Price Passes Above Two Hundred Day Moving Average of $657.67

Standard Chartered PLC (LON:STAN) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 657.67 ($8.36) and traded as high as GBX 779 ($9.90). Standard Chartered shares last traded at GBX 775.40 ($9.86), with a volume of 6,166,772 shares.

Wall Street Analysts Forecast Growth

STAN has been the subject of several recent analyst reports. Shore Capital reaffirmed a “buy” rating on shares of Standard Chartered in a research note on Friday, February 23rd. Keefe, Bruyette & Woods upgraded Standard Chartered to a “market perform” rating and set a GBX 790 ($10.04) price target on the stock in a report on Monday, February 12th. Barclays increased their price target on Standard Chartered from GBX 750 ($9.53) to GBX 800 ($10.17) and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Berenberg Bank increased their price target on Standard Chartered from GBX 1,000 ($12.71) to GBX 1,050 ($13.35) and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Standard Chartered in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Standard Chartered presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 951.33 ($12.09).

Standard Chartered Price Performance

The stock has a fifty day moving average price of GBX 704.78 and a two-hundred day moving average price of GBX 657.67. The company has a market cap of £19.59 billion, a P/E ratio of 881.14, a price-to-earnings-growth ratio of 1.06 and a beta of 0.83.

Insider Activity

In other news, insider Bill Winters sold 24,101 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of GBX 665 ($8.45), for a total value of £160,271.65 ($203,700.62). Corporate insiders own 1.38% of the company’s stock.

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.