Standard Chartered (OTCMKTS:SCBFF) Sets New 12-Month High – Here’s Why

Standard Chartered PLC (OTCMKTS:SCBFF)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $24.3425 and last traded at $24.3425, with a volume of 353 shares trading hands. The stock had previously closed at $23.9755.

Analyst Ratings Changes

A number of research firms have commented on SCBFF. Zacks Research raised shares of Standard Chartered from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 12th. Citigroup reiterated a “neutral” rating on shares of Standard Chartered in a research report on Monday, November 3rd. Morgan Stanley upgraded Standard Chartered from an “equal weight” rating to an “overweight” rating in a research report on Monday, November 24th. Finally, The Goldman Sachs Group raised Standard Chartered from a “hold” rating to a “buy” rating in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Standard Chartered currently has a consensus rating of “Buy”.

Standard Chartered Trading Down 3.2%

The company has a market capitalization of $54.42 billion, a PE ratio of 12.73 and a beta of 0.54. The firm has a fifty day moving average of $21.14 and a two-hundred day moving average of $19.12.

Standard Chartered (OTCMKTS:SCBFF) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. Standard Chartered had a return on equity of 10.88% and a net margin of 12.84%.The business had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $4.97 billion. On average, equities analysts expect that Standard Chartered PLC will post 1.66 EPS for the current fiscal year.

Standard Chartered Company Profile

Standard Chartered plc is a British multinational banking and financial services company headquartered in London. The firm traces its modern form to the 1969 merger of the Chartered Bank of India, Australia and China (founded in 1853) and Standard Bank of British South Africa (founded in 1862), creating an international bank with deep historical roots in trade finance and cross-border banking. Standard Chartered maintains a global footprint and a long-standing focus on facilitating trade and capital flows between developed and emerging markets.

Standard Chartered provides a broad range of banking and financial services for corporate, institutional and individual clients.