Standard Chartered (OTCMKTS:SCBFF) Stock Price Down 6.7% – Here’s What Happened

Shares of Standard Chartered PLC (OTCMKTS:SCBFF) fell 6.7% during mid-day trading on Wednesday . The stock traded as low as $24.50 and last traded at $24.50. 796 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 10,514 shares. The stock had previously closed at $26.2550.

Analyst Ratings Changes

SCBFF has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised Standard Chartered from a “moderate sell” rating to a “hold” rating in a report on Wednesday, May 6th. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a research report on Friday, May 1st. BNP Paribas Exane upgraded Standard Chartered to an “outperform” rating in a report on Tuesday, April 14th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Standard Chartered Stock Performance

The firm has a market cap of $56.75 billion, a P/E ratio of 12.18 and a beta of 0.68. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.82 and a current ratio of 0.82. The business’s 50-day simple moving average is $24.47 and its 200 day simple moving average is $23.78.

Standard Chartered (OTCMKTS:SCBFF) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.18. The firm had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.58 billion. Standard Chartered had a return on equity of 11.07% and a net margin of 13.63%. As a group, equities analysts predict 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.