Standard Chartered (OTCMKTS:SCBFF) Sees Strong Trading Volume – What’s Next?

Shares of Standard Chartered PLC (OTCMKTS:SCBFF) saw strong trading volume on Tuesday . 16,689 shares changed hands during mid-day trading, an increase of 191% from the previous session’s volume of 5,742 shares.The stock last traded at $23.15 and had previously closed at $24.0588.

Analyst Ratings Changes

Several research analysts have recently weighed in on SCBFF shares. Zacks Research cut shares of Standard Chartered from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Citigroup restated a “neutral” rating on shares of Standard Chartered in a research report on Wednesday. Morgan Stanley restated an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, January 14th. Finally, The Goldman Sachs Group upgraded Standard Chartered from a “hold” rating to a “buy” rating in a research report on Thursday, December 11th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

Standard Chartered Price Performance

The stock has a 50 day moving average of $24.63 and a 200 day moving average of $21.58. The firm has a market cap of $55.52 billion, a P/E ratio of 12.99 and a beta of 0.52.

Standard Chartered (OTCMKTS:SCBFF) last issued its quarterly earnings results 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 the consensus estimate of $4.82 billion. On average, research analysts predict that Standard Chartered PLC will post 1.66 EPS for the current fiscal year.

About Standard Chartered

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.