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

Shares of Standard Chartered PLC (OTCMKTS:SCBFF) hit a new 52-week high on Tuesday . The stock traded as high as $29.1099 and last traded at $27.5475, with a volume of 2839 shares trading hands. The stock had previously closed at $28.0250.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SCBFF. Morgan Stanley restated an “overweight” rating on shares of Standard Chartered in a report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft raised shares of Standard Chartered from a “hold” rating to a “buy” rating in a research report on Tuesday, June 23rd. BNP Paribas Exane raised shares of Standard Chartered to an “outperform” rating in a research note on Tuesday, April 14th. Keefe, Bruyette & Woods upgraded shares of Standard Chartered from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Finally, Citigroup reissued a “neutral” rating on shares of Standard Chartered in a research note on Friday, May 1st. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Standard Chartered presently has a consensus rating of “Moderate Buy”.

Standard Chartered Price Performance

The company’s 50-day moving average is $26.37 and its 200-day moving average is $24.52. The firm has a market capitalization of $64.51 billion, a price-to-earnings ratio of 13.84 and a beta of 0.69. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.82 and a quick ratio of 0.82.

Standard Chartered (OTCMKTS:SCBFF) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.18. Standard Chartered had a net margin of 13.63% and a return on equity of 11.07%. The firm had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $5.58 billion. On average, research analysts expect that Standard Chartered PLC will post 2.26 earnings per share 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.