Standard Chartered (LON:STAN) Hits New 12-Month High – Time to Buy?

Standard Chartered PLC (LON:STAN)’s share price hit a new 52-week high on Tuesday . The company traded as high as GBX 2,072 and last traded at GBX 2,009, with a volume of 6100441 shares trading hands. The stock had previously closed at GBX 1,993.50.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on STAN shares. Shore Capital Group upgraded shares of Standard Chartered to a “sell” rating in a report on Friday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of Standard Chartered from GBX 2,200 to GBX 2,220 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Jefferies Financial Group reiterated a “buy” rating and set a GBX 2,250 price target on shares of Standard Chartered in a report on Thursday, April 30th. Finally, UBS Group reiterated a “buy” rating and set a GBX 2,130 price target on shares of Standard Chartered in a report on Monday, May 18th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of GBX 1,938.33.

Standard Chartered Price Performance

The business’s fifty day moving average price is GBX 1,775.62 and its 200-day moving average price is GBX 1,756.62. The stock has a market capitalization of £44.21 billion, a price-to-earnings ratio of 9.73, a PEG ratio of 0.80 and a beta of 0.60.

Insider Transactions at Standard Chartered

In other news, insider Peter Burrill sold 10,907 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of GBX 1,554, for a total transaction of £169,494.78. Also, insider Bill Winters bought 86,027 shares of Standard Chartered stock in a transaction dated Thursday, March 19th. The shares were bought at an average cost of GBX 1,507 per share, with a total value of £1,296,426.89. Corporate insiders own 0.38% 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. It offers retail products, such as deposits, mortgages, credit cards, and personal loans; wealth management products and services that include investments, portfolio management, insurance, and wealth advice; and transaction banking services, such as cash management, working capital, and trade financing products.