Standard Chartered PLC (LON:STAN) Given Consensus Rating of “Hold” by Brokerages

Standard Chartered PLC (LON:STAN) has received an average rating of “Hold” from the seventeen ratings firms that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is GBX 561.11 ($6.91).

A number of equities research analysts have recently commented on STAN shares. Barclays reaffirmed an “underweight” rating on shares of Standard Chartered in a research note on Thursday. Citigroup reaffirmed a “buy” rating on shares of Standard Chartered in a research note on Tuesday, July 21st. Shore Capital reaffirmed a “buy” rating on shares of Standard Chartered in a research note on Thursday. Berenberg Bank reaffirmed a “buy” rating on shares of Standard Chartered in a research note on Thursday, July 2nd. Finally, BNP Paribas raised shares of Standard Chartered to a “neutral” rating and dropped their price objective for the stock from GBX 520 ($6.40) to GBX 500 ($6.15) in a research note on Monday, May 25th.

LON:STAN traded down GBX 8.30 ($0.10) during midday trading on Tuesday, hitting GBX 385.80 ($4.75). The company’s stock had a trading volume of 7,070,621 shares, compared to its average volume of 7,690,000. Standard Chartered has a fifty-two week low of GBX 4.27 ($0.05) and a fifty-two week high of GBX 740.80 ($9.12). The firm’s 50 day moving average is GBX 434.03 and its 200-day moving average is GBX 489.18. The firm has a market cap of $12.18 billion and a P/E ratio of 8.05.

In other Standard Chartered news, insider Bill Winters sold 16,470 shares of Standard Chartered stock in a transaction dated Monday, May 4th. The stock was sold at an average price of GBX 391 ($4.81), for a total value of £64,397.70 ($79,248.95). Also, insider Byron Elmer Grote bought 2,447 shares of the company’s stock in a transaction on Friday, May 15th. The stock was purchased at an average cost of GBX 470 ($5.78) per share, with a total value of £11,500.90 ($14,153.21).

Standard Chartered Company Profile

Standard Chartered PLC., together with its subsidiaries, provides various banking products and services primarily in Asia, Africa, and the Middle East. The company operates through Corporate & Institutional Banking, Retail banking, Commercial Banking, and Private Banking segments. It offers retail products, such as deposits, savings, mortgages, credit cards, and personal loans; wealth management that include investments, portfolio management, insurance and advices, and planning services; and transaction banking services, such as cash management, payments and transactions, securities services, and trade financing products.

Further Reading: Trading on Margin

Analyst Recommendations for Standard Chartered (LON:STAN)

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