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

Standard Chartered PLC (LON:STAN) shares fell 9.8% during trading on Thursday . The company traded as low as GBX 999 ($12.89) and last traded at GBX 1,039.38 ($13.41). 646,990,750 shares changed hands during mid-day trading, an increase of 2,485% from the average session volume of 25,029,953 shares. The stock had previously closed at GBX 1,152.50 ($14.87).

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Citigroup raised their price target on shares of Standard Chartered from GBX 1,170 ($15.09) to GBX 1,250 ($16.12) and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a GBX 970 ($12.51) price target on shares of Standard Chartered in a research report on Monday, February 24th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 1,073.33 ($13.85).

Standard Chartered Stock Performance

The firm has a market cap of £28.50 billion, a P/E ratio of 8.50, a P/E/G ratio of 0.80 and a beta of 0.85. The firm has a fifty day moving average of GBX 1,149.52 and a 200-day moving average of GBX 996.55.

Standard Chartered Increases Dividend

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

Insider Transactions at Standard Chartered

In other news, insider Bill Winters purchased 33,453 shares of the stock in a transaction dated Friday, March 14th. The shares were bought at an average cost of GBX 1,158 ($14.94) per share, for a total transaction of £387,385.74 ($499,723.61). Over the last three months, insiders sold 144,361 shares of company stock worth $122,238,845. Company 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.