Standard Chartered (LON:STAN) Reaches New 12-Month High – Time to Buy?

Standard Chartered PLC (LON:STAN) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 847.20 ($11.00) and last traded at GBX 847.20 ($11.00), with a volume of 4990964 shares trading hands. The stock had previously closed at GBX 836.60 ($10.86).

Analyst Ratings Changes

A number of research analysts have commented on STAN shares. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a report on Monday, September 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Standard Chartered from GBX 1,000 ($12.98) to GBX 1,020 ($13.24) and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Berenberg Bank reiterated a “buy” rating and set a GBX 1,100 ($14.28) target price on shares of Standard Chartered in a research note on Wednesday, August 21st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Standard Chartered currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 979.67 ($12.72).

Standard Chartered Stock Performance

The firm has a market cap of £20.92 billion, a P/E ratio of 968.05, a P/E/G ratio of 0.80 and a beta of 0.85. The firm has a fifty day moving average of GBX 780.98 and a 200-day moving average of GBX 744.60.

Standard Chartered Cuts Dividend

The business also recently announced a dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, August 8th were given a $0.09 dividend. This represents a yield of 0.96%. The ex-dividend date was Thursday, August 8th. Standard Chartered’s dividend payout ratio is presently 2,643.68%.

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.