Standard Chartered (LON:STAN) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

Standard Chartered PLC (LON:STAN)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 1,771.34 and traded as high as GBX 1,944. Standard Chartered shares last traded at GBX 1,811, with a volume of 1,549,345,625 shares.

Analyst Upgrades and Downgrades

Several brokerages recently commented on STAN. JPMorgan Chase & Co. boosted their target price on Standard Chartered from GBX 2,200 to GBX 2,220 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. UBS Group reissued a “buy” rating and set a GBX 2,130 target price on shares of Standard Chartered in a report on Monday, May 18th. Jefferies Financial Group reissued a “buy” rating and set a GBX 2,250 target price on shares of Standard Chartered in a report on Thursday, April 30th. Finally, Shore Capital Group raised Standard Chartered to a “sell” rating in a report on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of GBX 1,938.33.

Standard Chartered Price Performance

The stock has a market cap of £39.29 billion, a P/E ratio of 8.70, a PEG ratio of 0.80 and a beta of 0.60. The company has a fifty day moving average of GBX 1,822.80 and a 200 day moving average of GBX 1,771.34.

Insider Activity at Standard Chartered

In other news, insider Bill Winters bought 86,027 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The shares were purchased at an average price of GBX 1,507 per share, with a total value of £1,296,426.89. Also, insider Peter Burrill sold 10,907 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of GBX 1,554, for a total value of £169,494.78. 0.39% of the stock is owned by 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. 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.