Standard Chartered (LON:STAN) Sets New 1-Year High - Here's What Happened

Standard Chartered PLC (LON:STAN - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as GBX 1,006.50 ($12.83) and last traded at GBX 1,003 ($12.78), with a volume of 27241021 shares trading hands. The stock had previously closed at GBX 973.60 ($12.41).

Analyst Upgrades and Downgrades

Several research firms have commented on STAN. Berenberg Bank reissued a "buy" rating and set a GBX 1,100 ($14.02) price objective on shares of Standard Chartered in a report on Wednesday, August 21st. Citigroup reiterated a "neutral" rating on shares of Standard Chartered in a research report on Monday, September 2nd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Standard Chartered presently has a consensus rating of "Moderate Buy" and an average price target of GBX 1,002 ($12.77).

Standard Chartered Trading Up 1.6 %

The stock has a 50 day moving average of GBX 885.04 and a 200-day moving average of GBX 793.88. The stock has a market capitalization of £24.24 billion, a P/E ratio of 1,150.00, a price-to-earnings-growth ratio of 0.80 and a beta of 0.85.

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.