Standard Chartered (OTCMKTS:SCBFF) Sets New 1-Year High – What’s Next?

Shares of Standard Chartered PLC (OTCMKTS:SCBFF) reached a new 52-week high on Wednesday. The company traded as high as $31.5625 and last traded at $31.5625, with a volume of 397 shares trading hands. The stock had previously closed at $30.2475.

Analysts Set New Price Targets

Several research firms have commented on SCBFF. UBS Group downgraded Standard Chartered from a “buy” rating to a “hold” rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods upgraded Standard Chartered from a “hold” rating to a “moderate buy” rating in a report on Monday, September 14th. Citigroup reiterated a “neutral” rating on shares of Standard Chartered in a research note on Wednesday, September 23rd. Deutsche Bank Aktiengesellschaft raised shares of Standard Chartered from a “hold” rating to a “buy” rating in a research report on Tuesday, June 23rd. Finally, Morgan Stanley restated an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, July 8th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Standard Chartered presently has an average rating of “Moderate Buy”.

Standard Chartered Price Performance

The firm has a 50-day moving average of $29.58 and a 200 day moving average of $26.44. The company has a market capitalization of $72.69 billion, a PE ratio of 15.21 and a beta of 0.69. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.84 and a quick ratio of 0.82.

Standard Chartered (OTCMKTS:SCBFF) last issued its earnings results on Wednesday, July 29th. The company reported $0.75 earnings per share 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 analyst estimates of $5.59 billion. Standard Chartered had a return on equity of 10.84% and a net margin of 13.79%. As a group, research analysts anticipate that Standard Chartered PLC will post 2.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Standard Chartered stock. Madison Asset Management LLC increased its stake in shares of Standard Chartered PLC (OTCMKTS:SCBFF) by 13.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,447 shares of the company’s stock after purchasing an additional 5,154 shares during the period. Madison Asset Management LLC’s holdings in Standard Chartered were worth $2,313,000 as of its most recent filing with the Securities & Exchange Commission.

Standard Chartered Company Profile

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

Its principal businesses include corporate, commercial and institutional banking; transaction banking; financial markets; wealth management; and retail banking. Standard Chartered offers services such as lending, trade finance, cash management, foreign exchange, investment banking, asset management, mortgages, personal banking and investment products.

The group traces its origins to the Chartered Bank of India, Australia and China, founded in 1853, and the Standard Bank of British South Africa, founded in 1862.