Standard Chartered (OTCMKTS:SCBFY) Reaches New 1-Year High – Still a Buy?

Standard Chartered PLC (OTCMKTS:SCBFY)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $58.26 and last traded at $57.71, with a volume of 53825 shares changing hands. The stock had previously closed at $56.15.

Analyst Ratings Changes

Separately, Zacks Research cut Standard Chartered from a “strong-buy” rating to a “hold” rating in a report on Monday. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

Standard Chartered Price Performance

The stock’s 50-day moving average is $54.71 and its 200-day moving average is $50.35.

Standard Chartered Company Profile

Standard Chartered PLC is a leading international banking group headquartered in London, with a heritage dating back to the 19th century. The bank was formed in 1969 through the merger of Standard Bank of British South Africa and Chartered Bank of India, Australia and China, combining deep roots in emerging markets with a global footprint. Over more than 150 years of operations, Standard Chartered has built a reputation for expertise in trade finance, corporate banking and cross-border transactions.

The company offers a broad range of financial products and services, including corporate and institutional banking, retail banking, wealth management, treasury and capital markets solutions.