Standard Chartered (OTCMKTS:SCBFF) Shares Down 6.5% – Time to Sell?

Shares of Standard Chartered PLC (OTCMKTS:SCBFF) traded down 6.5% on Wednesday . The stock traded as low as $22.3425 and last traded at $22.3475. 526 shares were traded during trading, a decline of 91% from the average session volume of 5,685 shares. The stock had previously closed at $23.91.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. The Goldman Sachs Group upgraded Standard Chartered from a “hold” rating to a “buy” rating in a research note on Thursday, December 11th. Morgan Stanley reiterated an “overweight” rating on shares of Standard Chartered in a report on Wednesday, January 14th. Zacks Research cut shares of Standard Chartered from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a research report on Wednesday, February 25th. Two investment analysts have rated the stock with a Buy rating and two 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 Stock Performance

The firm has a fifty day moving average price of $24.60 and a 200 day moving average price of $21.77. The company has a market cap of $52.83 billion, a price-to-earnings ratio of 12.36 and a beta of 0.51.

Standard Chartered (OTCMKTS:SCBFF) last issued its earnings results on Tuesday, February 24th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.02). The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.82 billion. Standard Chartered had a return on equity of 10.77% and a net margin of 12.86%. On average, analysts expect that Standard Chartered PLC will post 1.66 EPS for the current fiscal 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.