Standard Chartered (OTCMKTS:SCBFF) Sees Strong Trading Volume – Here’s What Happened

Shares of Standard Chartered PLC (OTCMKTS:SCBFF) saw strong trading volume on Tuesday . 204,087 shares traded hands during mid-day trading, an increase of 840% from the previous session’s volume of 21,707 shares.The stock last traded at $21.4275 and had previously closed at $20.9875.

Wall Street Analysts Forecast Growth

SCBFF has been the topic of a number of analyst reports. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a report on Monday, November 3rd. Morgan Stanley raised Standard Chartered from an “equal weight” rating to an “overweight” rating in a research note on Monday. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Standard Chartered Stock Performance

The company has a market cap of $49.55 billion, a PE ratio of 11.73 and a beta of 0.74. The stock’s 50 day moving average price is $19.78 and its 200-day moving average price is $18.06.

Standard Chartered (OTCMKTS:SCBFF) last issued its earnings results on Thursday, October 30th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.06. Standard Chartered had a return on equity of 10.73% and a net margin of 12.27%.The company had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $4.97 billion. On average, analysts anticipate that Standard Chartered PLC will post 1.66 EPS for the current year.

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.