Standard Chartered (OTCMKTS:SCBFF) Trading Up 6.6% – Here’s What Happened

Standard Chartered PLC (OTCMKTS:SCBFF) shares rose 6.6% during mid-day trading on Friday . The stock traded as high as $30.93 and last traded at $30.93. 548 shares changed hands during trading, a decline of 96% from the average session volume of 12,847 shares. The stock had previously closed at $29.0250.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. BNP Paribas Exane raised shares of Standard Chartered to an “outperform” rating in a report on Tuesday, April 14th. Morgan Stanley restated an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, July 8th. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft upgraded Standard Chartered from a “hold” rating to a “buy” rating in a report on Tuesday, June 23rd. Finally, UBS Group downgraded Standard Chartered from a “buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Standard Chartered presently has a consensus rating of “Moderate Buy”.

Standard Chartered Stock Up 6.6%

The stock has a market cap of $70.32 billion, a P/E ratio of 14.73 and a beta of 0.69. The company’s 50 day moving average price is $26.96 and its two-hundred day moving average price is $24.80. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.50.

Standard Chartered (OTCMKTS:SCBFF) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.66 by $0.09. Standard Chartered had a return on equity of 10.97% and a net margin of 13.79%.The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.59 billion. As a group, research analysts expect that Standard Chartered PLC will post 2.28 earnings per share for the current 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.