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

Standard Chartered PLC (LON:STAN)’s share price dropped 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 were traded 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).

Analyst Ratings Changes

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

Standard Chartered Stock Down 5.5 %

The company has a 50 day moving average of GBX 1,149.52 and a two-hundred day moving average of GBX 996.55. The firm has a market cap of £28.50 billion, a P/E ratio of 8.50, a PEG ratio of 0.80 and a beta of 0.85.

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 paid a $0.28 dividend. The ex-dividend date is Thursday, March 27th. This represents a dividend yield of 1.79%. This is a boost from Standard Chartered’s previous dividend of $0.09. Standard Chartered’s payout ratio is currently 20.71%.

Insider Activity at Standard Chartered

In related news, insider Bill Winters sold 62,739 shares of Standard Chartered stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of GBX 1,191 ($15.36), for a total value of £747,221.49 ($963,908.01). Insiders sold a total of 144,361 shares of company stock valued at $122,238,845 over the last ninety days. 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.