Standard Chartered (LON:STAN) Stock Price Down 9.8% – Should You Sell?

Standard Chartered PLC (LON:STAN)’s share price dropped 9.8% during mid-day trading 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 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 ($15.10).

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a GBX 970 ($12.71) price objective on shares of Standard Chartered in a research note on Monday, February 24th. Citigroup boosted their price target on shares of Standard Chartered from GBX 1,170 ($15.33) to GBX 1,250 ($16.38) and gave the company a “neutral” rating in a report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of GBX 1,073.33 ($14.06).

Standard Chartered Stock Performance

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

Standard Chartered Increases Dividend

The business also recently disclosed a dividend, which will be paid on Monday, May 19th. Investors of record on Thursday, March 27th will be issued a dividend of $0.28 per share. This represents a dividend yield of 1.79%. This is a positive change from Standard Chartered’s previous dividend of $0.09. The ex-dividend date of this dividend is Thursday, March 27th. Standard Chartered’s dividend payout ratio (DPR) is presently 20.71%.

Insider Buying and Selling

In related news, insider Bill Winters sold 41,190 shares of Standard Chartered stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of GBX 12 ($0.16), for a total value of £4,942.80 ($6,476.42). In the last ninety days, insiders sold 144,361 shares of company stock valued at $122,238,845. Company insiders own 1.43% of the company’s stock.

Standard Chartered Company Profile

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.