Standard Chartered (OTCMKTS:SCBFF) Stock Gets Downgrade from Barclays

Standard Chartered (OTCMKTS:SCBFF) was downgraded by stock analysts at Barclays from a “strong-buy” rating to a “hold” rating in a report issued on Thursday, Zacks reports.

Several other research analysts have also issued reports on SCBFF. Morgan Stanley reiterated an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, July 8th. Keefe, Bruyette & Woods raised Standard Chartered from a “hold” rating to a “moderate buy” rating in a report on Monday, September 14th. UBS Group downgraded shares of Standard Chartered from a “buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Finally, Citigroup restated a “neutral” rating on shares of Standard Chartered in a research note on Wednesday, September 23rd. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Standard Chartered Trading Down 4.4%

SCBFF stock opened at $27.14 on Thursday. Standard Chartered has a 1-year low of $19.53 and a 1-year high of $31.98. The business’s 50 day moving average is $28.95 and its 200-day moving average is $26.20. The firm has a market cap of $61.70 billion, a P/E ratio of 11.59 and a beta of 0.66.

Standard Chartered (OTCMKTS:SCBFF) last posted its earnings results on Wednesday, October 28th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. The business had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.63 billion. Standard Chartered had a return on equity of 11.35% and a net margin of 14.76%. Sell-side analysts forecast that Standard Chartered will post 2.40 EPS for the current year.

Institutional Trading of Standard Chartered

A hedge fund recently raised its position in Standard Chartered stock. Madison Asset Management LLC lifted its stake in Standard Chartered PLC (OTCMKTS:SCBFF) by 13.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,447 shares of the company’s stock after purchasing an additional 5,154 shares during the period. Madison Asset Management LLC’s holdings in Standard Chartered were worth $2,313,000 at the end of the most recent quarter.

Standard Chartered Company Profile

Standard Chartered PLC is an international banking group headquartered in London, United Kingdom. The company provides banking and financial services to individuals, businesses, financial institutions and governments, with a particular focus on markets across Asia, Africa and the Middle East.

Its principal businesses include corporate and institutional banking, commercial banking, wealth management, private banking and consumer banking. Products and services include transaction banking, trade finance, lending, cash management, investment banking, foreign exchange, capital markets, investment services, mortgages, personal loans and deposit accounts.

Standard Chartered traces its origins to the Chartered Bank of India, Australia and China, founded in 1853, and the Standard Bank of British South Africa, founded in 1863.