Standard Chartered (OTCMKTS:SCBFF) Trading 6.6% Higher – Here’s What Happened

Standard Chartered PLC (OTCMKTS:SCBFF)’s stock price traded up 6.6% on Friday . The stock traded as high as $30.93 and last traded at $30.93. 548 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 12,847 shares. The stock had previously closed at $29.0250.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SCBFF. UBS Group lowered shares of Standard Chartered from a “buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Morgan Stanley reiterated an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, July 8th. Citigroup reissued a “neutral” rating on shares of Standard Chartered in a research report on Thursday, July 16th. BNP Paribas Exane upgraded Standard Chartered to an “outperform” rating in a research note on Tuesday, April 14th. Finally, Deutsche Bank Aktiengesellschaft raised Standard Chartered from a “hold” rating to a “buy” rating in a report on Tuesday, June 23rd. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Standard Chartered currently has an average rating of “Moderate Buy”.

Standard Chartered Trading Up 6.6%

The firm has a market capitalization of $70.32 billion, a P/E ratio of 14.73 and a beta of 0.69. The stock’s 50-day simple moving average is $26.96 and its two-hundred day simple moving average is $24.80. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.82 and a quick ratio of 0.82.

Standard Chartered (OTCMKTS:SCBFF) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.66 by $0.09. Standard Chartered had a net margin of 13.79% and a return on equity of 10.97%. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.59 billion. Equities research analysts expect that Standard Chartered PLC will post 2.28 EPS 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.