Standard Chartered (LON:STAN) Shares Down 9.8% – Here’s Why

Standard Chartered PLC (LON:STAN) shares dropped 9.8% on Thursday . The stock traded as low as GBX 999 ($13.09) and last traded at GBX 1,039.38 ($13.62). Approximately 646,990,750 shares changed hands during mid-day 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 ($15.10).

Analyst Ratings Changes

STAN has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a GBX 970 ($12.71) price target on shares of Standard Chartered in a research report on Monday, February 24th. Citigroup lifted their target price on Standard Chartered from GBX 1,170 ($15.33) to GBX 1,250 ($16.38) and gave the stock a “neutral” rating in a report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating and three have given 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 1,073.33 ($14.06).

Standard Chartered Stock Down 9.8 %

The firm has a market capitalization of £31.38 billion, a price-to-earnings ratio of 9.36, a price-to-earnings-growth ratio of 0.80 and a beta of 0.85. The business’s fifty day moving average is GBX 1,153.06 and its 200 day moving average is GBX 995.05.

Standard Chartered Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, May 19th. Stockholders of record on Thursday, March 27th will be issued a $0.28 dividend. The ex-dividend date is Thursday, March 27th. This is an increase from Standard Chartered’s previous dividend of $0.09. This represents a dividend yield of 1.79%. Standard Chartered’s dividend payout ratio (DPR) is 20.71%.

Insider Activity at Standard Chartered

In other Standard Chartered news, insider Bill Winters sold 62,739 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of GBX 1,191 ($15.61), for a total transaction of £747,221.49 ($979,063.80). Over the last 90 days, insiders sold 144,361 shares of company stock valued at $122,238,845. Corporate insiders own 1.43% 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.