Standard Chartered’s (STAN) “Buy” Rating Reiterated at Shore Capital

Shore Capital reissued their buy rating on shares of Standard Chartered (LON:STAN) in a research note released on Friday, MarketBeat reports.

Several other research firms have also weighed in on STAN. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a GBX 970 ($12.87) price target on shares of Standard Chartered in a research report on Monday, February 24th. Citigroup raised their price objective on Standard Chartered from GBX 1,170 ($15.53) to GBX 1,250 ($16.59) and gave the company a “neutral” rating in a report on Thursday, March 6th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of GBX 1,085 ($14.40).

Standard Chartered Price Performance

Shares of STAN opened at GBX 1,097.60 ($14.56) on Friday. The company has a market capitalization of £33.14 billion, a price-to-earnings ratio of 9.88, a price-to-earnings-growth ratio of 0.80 and a beta of 0.85. Standard Chartered has a 1 year low of GBX 664.80 ($8.82) and a 1 year high of GBX 1,281 ($17.00). The business has a 50-day moving average of GBX 1,104.02 and a 200-day moving average of GBX 1,033.21.

Standard Chartered Increases Dividend

The company also recently disclosed a dividend, which will be paid on Monday, May 19th. Shareholders of record on Thursday, March 27th will be paid a dividend of $0.28 per share. This represents a yield of 1.79%. This is a positive change from Standard Chartered’s previous dividend of $0.09. The ex-dividend date of this dividend is Thursday, March 27th. Standard Chartered’s payout ratio is presently 20.71%.

Insiders Place Their Bets

In related news, insider Bill Winters sold 41,190 shares of Standard Chartered stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of GBX 12 ($0.16), for a total transaction of £4,942.80 ($6,558.92). Insiders have sold 144,361 shares of company stock worth $122,238,845 in the last three months. Corporate insiders own 1.43% 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.