JPMorgan Chase & Co. reaffirmed their overweight rating on shares of Standard Chartered (LON:STAN) in a research note issued to investors on Tuesday, Digital Look reports. The firm currently has a GBX 850 ($11.11) price target on the financial services provider’s stock, up from their previous price target of GBX 820 ($10.71).
Other equities research analysts have also issued research reports about the stock. UBS Group restated a neutral rating on shares of Standard Chartered in a report on Monday, July 29th. Royal Bank of Canada lowered shares of Standard Chartered to an underperform rating and upped their target price for the stock from GBX 460 ($6.01) to GBX 580 ($7.58) in a report on Tuesday, April 30th. Barclays restated an underweight rating on shares of Standard Chartered in a report on Wednesday, July 17th. Shore Capital reiterated a buy rating on shares of Standard Chartered in a research note on Thursday, August 1st. Finally, Bank of America reiterated a buy rating on shares of Standard Chartered in a research note on Thursday, April 18th. Six research analysts have rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Standard Chartered presently has an average rating of Hold and a consensus price target of GBX 708.77 ($9.26).
STAN opened at GBX 610.60 ($7.98) on Tuesday. Standard Chartered has a fifty-two week low of GBX 514.20 ($6.72) and a fifty-two week high of GBX 742.60 ($9.70). The firm has a market capitalization of $19.40 billion and a PE ratio of 38.40. The company’s 50-day moving average is GBX 690.32 and its 200 day moving average is GBX 661.60.
The company also recently disclosed a dividend, which will be paid on Monday, October 21st. Shareholders of record on Thursday, August 8th will be paid a $0.07 dividend. The ex-dividend date is Thursday, August 8th. This represents a yield of 0.82%. Standard Chartered’s dividend payout ratio (DPR) is 1.51%.
In other news, insider Andrew Nigel (Andy) Halford acquired 23,701 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was purchased at an average price of GBX 703 ($9.19) per share, for a total transaction of £166,618.03 ($217,715.97).
Standard Chartered Company Profile
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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