Standard Chartered (LON:STAN) PT Lowered to GBX 570 at HSBC

Standard Chartered (LON:STAN) had its price objective lowered by HSBC from GBX 590 ($7.71) to GBX 570 ($7.45) in a research report released on Thursday morning, ThisIsMoney.Co.Uk reports. The firm currently has a reduce rating on the financial services provider’s stock.

STAN has been the topic of a number of other research reports. JPMorgan Chase & Co. reiterated an overweight rating and issued a GBX 850 ($11.11) price objective (up previously from GBX 820 ($10.71)) on shares of Standard Chartered in a report on Tuesday, August 13th. Bank of America reiterated a buy rating on shares of Standard Chartered in a report on Thursday, April 18th. Berenberg Bank reiterated a buy rating on shares of Standard Chartered in a report on Tuesday, July 16th. Investec downgraded Standard Chartered to a sell rating in a report on Friday, June 28th. Finally, Goldman Sachs Group reiterated a conviction-buy rating and issued a GBX 970 ($12.67) price objective (down previously from GBX 980 ($12.81)) on shares of Standard Chartered in a report on Tuesday, August 13th. Six research analysts have rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Standard Chartered currently has an average rating of Hold and an average price target of GBX 708.77 ($9.26).

STAN opened at GBX 612.40 ($8.00) on Thursday. Standard Chartered has a one year low of GBX 514.20 ($6.72) and a one year high of GBX 742.60 ($9.70). The company has a market cap of $19.68 billion and a P/E ratio of 38.52. The business’s 50-day simple moving average is GBX 688.35 and its 200-day simple moving average is GBX 661.35.

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

In other news, insider Andrew Nigel (Andy) Halford purchased 23,701 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were purchased at an average price of GBX 703 ($9.19) per share, for a total transaction 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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