Standard Chartered (OTCMKTS:SCBFF) Stock Price Up 6.8% – Here’s Why

Shares of Standard Chartered PLC (OTCMKTS:SCBFF) traded up 6.8% during mid-day trading on Wednesday . The company traded as high as $21.3125 and last traded at $21.3125. 682 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 5,259 shares. The stock had previously closed at $19.96.

Analyst Ratings Changes

SCBFF has been the topic of several recent research reports. Morgan Stanley reiterated an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, January 14th. Zacks Research cut Standard Chartered from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a research report on Wednesday, February 25th. Finally, The Goldman Sachs Group raised shares of Standard Chartered from a “hold” rating to a “buy” rating in a report on Thursday, December 11th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Standard Chartered currently has an average rating of “Moderate Buy”.

Standard Chartered Stock Down 8.7%

The company has a market capitalization of $44.93 billion, a P/E ratio of 10.51 and a beta of 0.51. The business has a 50 day moving average of $23.97 and a 200 day moving average of $21.98.

Standard Chartered (OTCMKTS:SCBFF) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.02). Standard Chartered had a return on equity of 10.77% and a net margin of 12.86%.The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.82 billion. On average, research analysts anticipate that Standard Chartered PLC will post 1.66 EPS for the current 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.