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

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a GBX 970 ($12.35) target price on shares of Standard Chartered in a report on Monday, February 24th. Citigroup boosted their price objective on shares of 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 equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 1,073.33 ($13.66).

Standard Chartered Stock Down 0.5 %

The stock has a market capitalization of £28.15 billion, a PE ratio of 8.39, a PEG ratio of 0.80 and a beta of 0.85. The firm's fifty day moving average price is GBX 1,146.94 and its two-hundred day moving average price is GBX 1,001.20.

Standard Chartered Increases Dividend

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

Insider Buying and Selling

In other Standard Chartered news, insider Bill Winters acquired 33,453 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were bought at an average price 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 valued at $122,238,845 over the last 90 days. Company insiders own 1.43% of the company's stock.

Standard Chartered Company Profile

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.