Standard Chartered (LON:STAN) Trading Down 9.8% - Time to Sell?

Standard Chartered PLC (LON:STAN - Get Free Report) shares fell 9.8% during mid-day trading on Thursday . The stock traded as low as GBX 999 ($12.72) and last traded at GBX 1,039.38 ($13.23). 646,990,750 shares traded hands during trading, an increase of 2,485% from the average session volume of 25,029,953 shares. The stock had previously closed at GBX 1,152.50 ($14.67).

Analyst Upgrades and Downgrades

STAN has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a GBX 970 ($12.35) target price on shares of Standard Chartered in a research note on Monday, February 24th. Citigroup raised their price objective on Standard Chartered from GBX 1,170 ($14.89) to GBX 1,250 ($15.91) and gave the stock a "neutral" rating in a report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Standard Chartered currently has an average rating of "Moderate Buy" and an average target price of GBX 1,073.33 ($13.66).

Standard Chartered Stock Down 1.2 %

The company has a market cap of £27.95 billion, a PE ratio of 8.34, a P/E/G ratio of 0.80 and a beta of 0.85. The stock's 50 day simple moving average is GBX 1,146.94 and its two-hundred day simple moving average is GBX 1,001.20.

Standard Chartered Increases Dividend

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

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Insiders Place Their Bets

In other Standard Chartered news, insider Bill Winters purchased 33,453 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was purchased at an average cost of GBX 1,158 ($14.74) per share, with a total value of £387,385.74 ($493,108.12). Insiders sold 144,361 shares of company stock worth $122,238,845 over the last three months. 1.43% of the stock is owned by insiders.

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.