Standard Chartered (LON:STAN) Share Price Crosses Above 200-Day Moving Average of $657.67

Standard Chartered PLC (LON:STAN)’s share price passed 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 changing hands.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of Standard Chartered to a “market perform” rating and set a GBX 790 ($10.04) target price for the company in a report on Monday, February 12th. Shore Capital reiterated a “buy” rating on shares of Standard Chartered in a report on Friday, February 23rd. Barclays lifted their target price on shares of Standard Chartered from GBX 750 ($9.53) to GBX 800 ($10.17) and gave the company an “equal weight” rating in a report on Friday, May 3rd. Jefferies Financial Group restated a “buy” rating and issued a GBX 1,300 ($16.52) price target on shares of Standard Chartered in a research note on Thursday, April 18th. Finally, Berenberg Bank boosted their price target on shares of Standard Chartered from GBX 1,000 ($12.71) to GBX 1,050 ($13.35) and gave the stock a “buy” rating in a research note on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Standard Chartered currently has an average rating of “Moderate Buy” and an average price target of GBX 951.33 ($12.09).

Standard Chartered Price Performance

The company’s 50 day simple moving average is GBX 707.25 and its 200 day simple moving average is GBX 658.68. The firm has a market cap of £19.83 billion, a price-to-earnings ratio of 883.86, a P/E/G ratio of 1.06 and a beta of 0.83.

Insider Transactions at Standard Chartered

In other news, insider Bill Winters sold 40,432 shares of Standard Chartered stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of GBX 655 ($8.32), for a total transaction of £264,829.60 ($336,590.75). 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.