Standard Chartered (OTCMKTS:SCBFF) Stock Price Up 7.8% Following Analyst Upgrade

Standard Chartered PLC (OTCMKTS:SCBFF) shot up 7.8% during mid-day trading on Monday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as $24.01 and last traded at $24.01. 190 shares traded hands during trading, a decline of 99% from the average session volume of 20,871 shares. The stock had previously closed at $22.27.

SCBFF has been the subject of a number of other research reports. Citigroup reiterated a “neutral” rating on shares of Standard Chartered in a research note on Monday, November 3rd. Morgan Stanley upgraded Standard Chartered from an “equal weight” rating to an “overweight” rating in a research report on Monday, November 24th. Finally, The Goldman Sachs Group upgraded Standard Chartered from a “hold” rating to a “buy” rating in a report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy”.

Standard Chartered Price Performance

The stock’s 50 day moving average is $20.70 and its two-hundred day moving average is $18.83. The firm has a market capitalization of $52.45 billion, a P/E ratio of 12.27 and a beta of 0.54.

Standard Chartered (OTCMKTS:SCBFF) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.51 earnings per share (EPS) for the quarter, topping 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 net margin of 12.84% and a return on equity of 10.88%. As a group, equities research analysts expect that Standard Chartered PLC will post 1.66 EPS for the current year.

About Standard Chartered

Standard Chartered PLC, together with its subsidiaries, provides various banking products and services in Asia, Africa, the Middle East, Europe, and the Americas. The company operates in three segments: Corporate, Commercial & Institutional Banking; Consumer, Private & Business Banking; and Ventures.