Standard Chartered (OTCMKTS:SCBFF) Sees Large Volume Increase – Still a Buy?

Standard Chartered PLC (OTCMKTS:SCBFF) saw unusually-high trading volume on Tuesday . Approximately 12,573 shares traded hands during mid-day trading, an increase of 56% from the previous session’s volume of 8,045 shares.The stock last traded at $24.75 and had previously closed at $24.9075.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley restated an “overweight” rating on shares of Standard Chartered in a report on Wednesday, January 14th. Citigroup reissued a “neutral” rating on shares of Standard Chartered in a research note on Friday, January 9th. Zacks Research cut Standard Chartered from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Finally, The Goldman Sachs Group upgraded Standard Chartered from a “hold” rating to a “buy” rating in a report on Thursday, December 11th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Standard Chartered Price Performance

The firm’s 50 day moving average price is $23.00 and its 200 day moving average price is $20.28. The stock has a market capitalization of $55.61 billion, a P/E ratio of 13.01 and a beta of 0.53.

Standard Chartered (OTCMKTS:SCBFF) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. The company had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $4.97 billion. Standard Chartered had a return on equity of 10.88% and a net margin of 12.84%. On average, equities research analysts forecast that Standard Chartered PLC will post 1.66 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.