Standard Chartered’s (STAN) Underweight Rating Reaffirmed at Barclays

Barclays restated their underweight rating on shares of Standard Chartered (LON:STAN) in a research report sent to investors on Thursday, ThisIsMoney.Co.Uk reports.

A number of other analysts have also recently weighed in on the stock. UBS Group restated a neutral rating and set a GBX 670 ($8.75) target price (down from GBX 695 ($9.08)) on shares of Standard Chartered in a report on Tuesday, August 13th. JPMorgan Chase & Co. restated an overweight rating and set a GBX 850 ($11.11) target price (up from GBX 820 ($10.71)) on shares of Standard Chartered in a report on Tuesday, August 13th. Deutsche Bank restated a hold rating and set a GBX 630 ($8.23) target price on shares of Standard Chartered in a report on Friday, September 6th. HSBC reduced their target price on shares of Standard Chartered from GBX 590 ($7.71) to GBX 570 ($7.45) and set a reduce rating for the company in a report on Thursday, August 15th. Finally, Morgan Stanley restated an underweight rating on shares of Standard Chartered in a report on Friday, July 26th. Six investment analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of GBX 708.77 ($9.26).

LON:STAN traded up GBX 19.60 ($0.26) during trading hours on Thursday, reaching GBX 701.40 ($9.17). 8,068,151 shares of the company’s stock were exchanged, compared to its average volume of 7,690,000. The company has a market capitalization of $22.59 billion and a P/E ratio of 44.11. Standard Chartered has a 12 month low of GBX 514.20 ($6.72) and a 12 month high of GBX 742.60 ($9.70). The business’s 50-day simple moving average is GBX 647.19 and its two-hundred day simple moving average is GBX 660.64.

The company also recently disclosed a dividend, which will be paid on Monday, October 21st. Investors of record on Thursday, August 8th will be paid a $0.07 dividend. This represents a yield of 0.82%. The ex-dividend date is Thursday, August 8th. Standard Chartered’s dividend payout ratio is 1.51%.

In other news, insider Andrew Nigel (Andy) Halford acquired 23,701 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was purchased at an average price of GBX 703 ($9.19) per share, with a total value of £166,618.03 ($217,715.97).

About Standard Chartered

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.

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Analyst Recommendations for Standard Chartered (LON:STAN)

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