Standard Chartered (LON:STAN) Hits New 1-Year High - Here's Why

Standard Chartered PLC (LON:STAN - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 120 ($1.57) and last traded at GBX 937.20 ($12.27), with a volume of 10430695 shares. The stock had previously closed at GBX 943.81 ($12.35).

Wall Street Analysts Forecast Growth

STAN has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a GBX 970 ($12.70) price target on shares of Standard Chartered in a research report on Monday, February 24th. Citigroup raised their price objective on Standard Chartered from GBX 1,170 ($15.31) to GBX 1,250 ($16.36) and gave the stock a "neutral" rating in a research note on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of GBX 1,073.33 ($14.05).

Standard Chartered Stock Up 2.2 %

The firm has a market capitalization of £28.34 billion, a price-to-earnings ratio of 8.45, a price-to-earnings-growth ratio of 0.80 and a beta of 0.85. The firm's 50 day moving average is GBX 1,127.66 and its 200 day moving average is GBX 1,004.38.

Standard Chartered Increases Dividend

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

Insiders Place Their Bets

In related news, insider Bill Winters purchased 33,453 shares of the company's stock in a transaction dated Friday, March 14th. The shares were acquired at an average cost of GBX 1,158 ($15.16) per share, with a total value of £387,385.74 ($507,049.40). In the last three months, insiders have sold 144,361 shares of company stock worth $122,238,845. Corporate 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.