UBS Group Reaffirms “Neutral” Rating for Standard Chartered (LON:STAN)

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UBS Group restated their neutral rating on shares of Standard Chartered (LON:STAN) in a research report sent to investors on Tuesday morning, ThisIsMoney.Co.Uk reports. They currently have a GBX 670 ($8.75) price objective on the financial services provider’s stock, down from their prior price objective of GBX 695 ($9.08).

Several other research analysts have also recently issued reports on STAN. Barclays reaffirmed an underweight rating on shares of Standard Chartered in a report on Wednesday, July 17th. Bank of America reaffirmed a buy rating on shares of Standard Chartered in a report on Thursday, April 18th. Royal Bank of Canada cut shares of Standard Chartered to an underperform rating and lifted their target price for the stock from GBX 460 ($6.01) to GBX 580 ($7.58) in a report on Tuesday, April 30th. Morgan Stanley reaffirmed an underweight rating on shares of Standard Chartered in a report on Friday, July 26th. Finally, Berenberg Bank reaffirmed a buy rating on shares of Standard Chartered in a report on Tuesday, July 16th. Six equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of GBX 708.77 ($9.26).

Shares of Standard Chartered stock opened at GBX 610.60 ($7.98) on Tuesday. The stock has a market capitalization of $19.40 billion and a PE ratio of 38.40. Standard Chartered has a 52-week low of GBX 514.20 ($6.72) and a 52-week high of GBX 742.60 ($9.70). The company has a 50-day simple moving average of GBX 690.32 and a two-hundred day simple moving average of GBX 661.60.

The business also recently disclosed a dividend, which will be paid on Monday, October 21st. Stockholders of record on Thursday, August 8th will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, August 8th. This represents a dividend yield of 0.82%. Standard Chartered’s payout ratio is 1.51%.

In related news, insider Andrew Nigel (Andy) Halford acquired 23,701 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was purchased at an average cost of GBX 703 ($9.19) per share, with a total value of £166,618.03 ($217,715.97).

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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Analyst Recommendations for Standard Chartered (LON:STAN)

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