Standard Chartered (LON:STAN) Shares Down 9.8% – Should You Sell?

Standard Chartered PLC (LON:STAN) shares fell 9.8% during mid-day trading on Thursday . The stock traded as low as GBX 999 ($13.09) and last traded at GBX 1,039.38 ($13.62). 646,990,750 shares traded 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 ($15.10).

Analysts Set New Price Targets

STAN has been the subject of several recent analyst reports. Citigroup raised their target price on shares of Standard Chartered from GBX 1,170 ($15.33) to GBX 1,250 ($16.38) and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a GBX 970 ($12.71) price target on shares of Standard Chartered in a report on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Standard Chartered has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,073.33 ($14.06).

Standard Chartered Stock Down 9.8 %

The company has a market cap of £31.38 billion, a price-to-earnings ratio of 9.36, a P/E/G ratio of 0.80 and a beta of 0.85. The business has a fifty day simple moving average of GBX 1,152.17 and a 200 day simple moving average of GBX 995.36.

Standard Chartered Increases Dividend

The business also recently disclosed a dividend, which will be paid on Monday, May 19th. Investors of record on Thursday, March 27th will be paid 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 dividend yield of 1.79%. Standard Chartered’s dividend payout ratio (DPR) is 20.71%.

Insider Buying and Selling

In other Standard Chartered news, insider Bill Winters sold 62,739 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of GBX 1,191 ($15.61), for a total transaction of £747,221.49 ($979,063.80). Over the last 90 days, insiders have sold 144,361 shares of company stock valued at $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.