Standard Chartered’s (STAN) Neutral Rating Reaffirmed at UBS Group

UBS Group restated their neutral rating on shares of Standard Chartered (LON:STAN) in a research note issued to investors on Wednesday morning, investing.thisismoney.co.uk reports. The brokerage currently has a GBX 600 ($7.84) target price on the financial services provider’s stock, down from their prior target price of GBX 735 ($9.60).

STAN has been the topic of a number of other reports. JPMorgan Chase & Co. increased their target price on Standard Chartered from GBX 900 ($11.76) to GBX 930 ($12.15) and gave the stock an overweight rating in a research note on Thursday, August 30th. Goldman Sachs Group cut their target price on Standard Chartered from GBX 970 ($12.67) to GBX 945 ($12.35) and set a conviction-buy rating on the stock in a research note on Wednesday, September 12th. Berenberg Bank reissued a buy rating and issued a GBX 920 ($12.02) target price on shares of Standard Chartered in a research note on Friday, July 20th. Credit Suisse Group reissued an underperform rating on shares of Standard Chartered in a research note on Thursday, September 20th. Finally, Citigroup cut their target price on Standard Chartered from GBX 910 ($11.89) to GBX 850 ($11.11) and set a buy rating on the stock in a research note on Tuesday, October 2nd. Seven equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Hold and an average price target of GBX 726.81 ($9.50).

Shares of LON STAN traded down GBX 11.20 ($0.15) during trading on Wednesday, reaching GBX 549.10 ($7.17). The company had a trading volume of 3,237,485 shares, compared to its average volume of 7,690,000. Standard Chartered has a 12-month low of GBX 678.80 ($8.87) and a 12-month high of GBX 864.20 ($11.29).

The firm also recently disclosed a dividend, which will be paid on Monday, October 22nd. Investors of record on Thursday, August 9th will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, August 9th. This represents a dividend yield of 0.68%.

In related news, insider Bill Winters sold 152,207 shares of the stock in a transaction on Monday, September 24th. The stock was sold at an average price of GBX 641 ($8.38), for a total transaction of £975,646.87 ($1,274,855.44).

About Standard Chartered

Standard Chartered PLC provides various banking products and services in the Greater China and North Asia, ASEAN and South Asia, Africa and the Middle East, and Europe and America. The company operates in four segments: Corporate & Institutional Banking, Private Banking, Commercial Banking, and Retail Banking.

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Analyst Recommendations for Standard Chartered (LON:STAN)

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