Standard Chartered (OTCMKTS:SCBFY) Sees Large Volume Increase – Time to Buy?

Standard Chartered PLC (OTCMKTS:SCBFY) shares saw unusually-strong trading volume on Thursday . 248,601 shares changed hands during trading, an increase of 19% from the previous session’s volume of 208,442 shares.The stock last traded at $56.54 and had previously closed at $54.87.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of Standard Chartered from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

Standard Chartered Price Performance

The business has a 50-day simple moving average of $53.03 and a 200-day simple moving average of $49.62.

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.