Standard Chartered (LON:STAN) Trading Down 9.8% - Here's Why

Standard Chartered PLC (LON:STAN - Get Free Report)'s share price fell 9.8% during mid-day trading on Friday . The company traded as low as GBX 999 ($12.77) and last traded at GBX 1,039.38 ($13.28). 646,990,750 shares changed hands during mid-day 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 ($14.73).

Wall Street Analyst Weigh In

STAN has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a GBX 970 ($12.39) target price on shares of Standard Chartered in a research note on Monday, February 24th. Citigroup increased their price target on shares of Standard Chartered from GBX 1,170 ($14.95) to GBX 1,250 ($15.97) and gave the stock a "neutral" rating in a research note on Thursday, March 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of GBX 1,073.33 ($13.71).

Standard Chartered Trading Down 4.8 %

The business has a 50 day moving average price of GBX 1,133.01 and a 200-day moving average price of GBX 1,002. The firm has a market capitalization of £26.53 billion, a PE ratio of 7.91, a P/E/G ratio of 0.80 and a beta of 0.85.

Standard Chartered Increases Dividend

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

Insider Buying and Selling at Standard Chartered

In other Standard Chartered news, insider Bill Winters sold 62,739 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of GBX 1,191 ($15.22), for a total value of £747,221.49 ($954,793.62). Over the last quarter, insiders sold 144,361 shares of company stock valued at $122,238,845. 1.43% of the stock is owned by company insiders.

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.