UBS Group restated their neutral rating on shares of Standard Chartered (LON:STAN) in a research note released on Wednesday morning, ThisIsMoney.Co.Uk reports. UBS Group currently has a GBX 690 ($9.02) price objective on the financial services provider’s stock, up from their previous price objective of GBX 610 ($7.97).
Several other brokerages also recently issued reports on STAN. Deutsche Bank raised their price target on Standard Chartered from GBX 580 ($7.58) to GBX 620 ($8.10) and gave the stock a hold rating in a report on Monday, March 4th. Goldman Sachs Group cut their price target on Standard Chartered from GBX 930 ($12.15) to GBX 910 ($11.89) and set a conviction-buy rating on the stock in a report on Friday, February 22nd. Berenberg Bank cut their price target on Standard Chartered from GBX 920 ($12.02) to GBX 800 ($10.45) and set a buy rating on the stock in a report on Monday, February 4th. HSBC cut their price target on Standard Chartered from GBX 610 ($7.97) to GBX 590 ($7.71) and set a hold rating on the stock in a report on Tuesday, March 19th. Finally, Jefferies Financial Group raised Standard Chartered to a buy rating and raised their price target for the stock from GBX 348 ($4.55) to GBX 489 ($6.39) in a report on Tuesday, April 9th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Standard Chartered has an average rating of Hold and a consensus target price of GBX 708.50 ($9.26).
Shares of LON STAN traded up GBX 2.80 ($0.04) during mid-day trading on Wednesday, hitting GBX 710.40 ($9.28). The company had a trading volume of 7,147,931 shares, compared to its average volume of 7,690,000. The company has a market cap of $23.50 billion and a price-to-earnings ratio of 38.40. Standard Chartered has a 12 month low of GBX 514.20 ($6.72) and a 12 month high of GBX 787.30 ($10.29).
The firm also recently announced a dividend, which will be paid on Thursday, May 16th. Shareholders of record on Thursday, March 7th will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, March 7th. This represents a yield of 1.85%. This is an increase from Standard Chartered’s previous dividend of $0.06. Standard Chartered’s payout ratio is presently 1.30%.
About Standard Chartered
Standard Chartered PLC., together with its subsidiaries, provides various banking products and services primarily in Asia, Africa, and the Middle East. The company operates through Corporate & Institutional Banking, Retail banking, Commercial Banking, and Private Banking segments. It offers retail products, such as deposits, savings, mortgages, credit cards, and personal loans; wealth management that include investments, portfolio management, insurance and advices, and planning services; and transaction banking services, such as cash management, payments and transactions, securities services, and trade financing products.
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