Standard Chartered (LON:STAN) Sets New 12-Month High – Here’s What Happened

Standard Chartered PLC (LON:STAN) hit a new 52-week high on Monday . The company traded as high as GBX 845.60 ($11.07) and last traded at GBX 837.93 ($10.97), with a volume of 10428796 shares trading hands. The stock had previously closed at GBX 841.60 ($11.01).

Analyst Ratings Changes

STAN has been the subject of several research analyst reports. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 1,100 ($14.40) price objective on shares of Standard Chartered in a report on Wednesday, August 21st. Citigroup reissued a “neutral” rating on shares of Standard Chartered in a report on Monday, September 2nd. Finally, JPMorgan Chase & Co. lifted their target price on Standard Chartered from GBX 1,000 ($13.09) to GBX 1,020 ($13.35) and gave the stock an “overweight” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Standard Chartered has a consensus rating of “Moderate Buy” and a consensus target price of GBX 979.67 ($12.82).

Standard Chartered Stock Performance

The stock has a market cap of £20.66 billion, a price-to-earnings ratio of 990.12, a price-to-earnings-growth ratio of 0.89 and a beta of 0.85. The company’s 50 day simple moving average is GBX 762.18 and its two-hundred day simple moving average is GBX 736.14.

Standard Chartered Cuts Dividend

The business also recently declared a dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, August 8th were paid a $0.09 dividend. This represents a dividend yield of 0.96%. The ex-dividend date was Thursday, August 8th. Standard Chartered’s dividend payout ratio (DPR) is presently 2,823.53%.

Standard Chartered Company Profile

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.