Standard Chartered (OTCMKTS:SCBFY) Reaches New 52-Week High – Should You Buy?

Standard Chartered PLC (OTCMKTS:SCBFY) shares hit a new 52-week high on Tuesday . The stock traded as high as $60.35 and last traded at $60.30, with a volume of 7161 shares. The stock had previously closed at $59.62.

Analyst Ratings Changes

Separately, Zacks Research downgraded shares of Standard Chartered from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Standard Chartered Trading Down 1.3%

The firm has a 50-day simple moving average of $55.43 and a 200-day simple moving average of $50.77.

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.