Standard Chartered (OTCMKTS:SCBFF) Trading Up 4% – Here’s What Happened

Standard Chartered PLC (OTCMKTS:SCBFF)’s stock price was up 4% on Thursday . The stock traded as high as $31.0375 and last traded at $31.0375. Approximately 5,532 shares changed hands during trading, a decline of 52% from the average session volume of 11,417 shares. The stock had previously closed at $29.8550.

Wall Street Analysts Forecast Growth

SCBFF has been the subject of a number of analyst reports. Morgan Stanley reissued an “overweight” rating on shares of Standard Chartered in a report on Wednesday, July 8th. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a report on Thursday, July 16th. UBS Group cut shares of Standard Chartered from a “buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft raised Standard Chartered from a “hold” rating to a “buy” rating in a report on Tuesday, June 23rd. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Standard Chartered Stock Up 2.1%

The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $70.89 billion, a P/E ratio of 14.83 and a beta of 0.69. The firm has a fifty day simple moving average of $28.95 and a 200-day simple moving average of $25.82.

Standard Chartered (OTCMKTS:SCBFF) last posted its earnings results on Wednesday, July 29th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.59 billion. Standard Chartered had a return on equity of 10.84% and a net margin of 13.79%. On average, equities research analysts expect that Standard Chartered PLC will post 2.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Standard Chartered stock. Madison Asset Management LLC boosted its position in Standard Chartered PLC (OTCMKTS:SCBFF) by 13.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,447 shares of the company’s stock after buying an additional 5,154 shares during the quarter. Madison Asset Management LLC’s holdings in Standard Chartered were worth $2,313,000 as of its most recent filing with the SEC.

Standard Chartered Company Profile

Standard Chartered PLC is an international banking group headquartered in London. The company provides financial services to individuals, businesses, financial institutions and governments through operations spanning Asia, Africa, the Middle East, the United Kingdom and the Americas.

Its principal activities include corporate, commercial and institutional banking, retail banking, private banking and wealth management. Standard Chartered offers lending, trade finance, transaction banking, foreign exchange, investment banking, capital markets, cash management and investment products, along with personal banking services such as deposits, mortgages, credit cards and other forms of consumer finance in selected markets.

Standard Chartered traces its history to the formation of Chartered Bank of India, Australia and China in 1853 and the Standard Bank of British South Africa in 1862.