Standard Chartered (LON:STAN) Trading Down 9.8% – What’s Next?

Standard Chartered PLC (LON:STAN) was down 9.8% on Thursday . The stock traded as low as GBX 999 ($12.89) and last traded at GBX 1,039.38 ($13.41). Approximately 646,990,750 shares changed hands during trading, an increase of 2,485% from the average daily volume of 25,029,953 shares. The stock had previously closed at GBX 1,152.50 ($14.87).

Wall Street Analyst Weigh In

STAN has been the topic of a number of recent research reports. Citigroup increased their target price on Standard Chartered from GBX 1,170 ($15.09) to GBX 1,250 ($16.12) and gave the company a “neutral” rating in a report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a GBX 970 ($12.51) price objective on shares of Standard Chartered in a research note on Monday, February 24th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Standard Chartered presently has a consensus rating of “Moderate Buy” and an average target price of GBX 1,073.33 ($13.85).

Standard Chartered Stock Performance

The company has a fifty day simple moving average of GBX 1,149.52 and a two-hundred day simple moving average of GBX 996.55. The firm has a market capitalization of £28.50 billion, a PE ratio of 8.50, a PEG ratio of 0.80 and a beta of 0.85.

Standard Chartered Increases Dividend

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

Insiders Place Their Bets

In other news, insider Bill Winters sold 41,190 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of GBX 12 ($0.15), for a total transaction of £4,942.80 ($6,376.16). Over the last ninety days, insiders sold 144,361 shares of company stock worth $122,238,845. 1.43% of the stock is owned by corporate insiders.

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.