Standard Chartered PLC (OTCMKTS:SCBFF) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Standard Chartered PLC (OTCMKTS:SCBFF) has been assigned a consensus rating of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company.

SCBFF has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Standard Chartered from a “hold” rating to a “buy” rating in a research note on Tuesday, June 23rd. Keefe, Bruyette & Woods upgraded Standard Chartered from a “hold” rating to a “moderate buy” rating in a research note on Monday, September 14th. Citigroup reissued a “neutral” rating on shares of Standard Chartered in a report on Wednesday, September 23rd. Morgan Stanley reiterated an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, July 8th. Finally, UBS Group downgraded shares of Standard Chartered from a “buy” rating to a “hold” rating in a report on Thursday, July 23rd.

Standard Chartered Trading Down 3.7%

Shares of SCBFF opened at $27.34 on Tuesday. The stock has a 50 day moving average of $29.68 and a 200 day moving average of $26.84. The company has a market capitalization of $62.16 billion, a price-to-earnings ratio of 13.01 and a beta of 0.66. Standard Chartered has a 12 month low of $18.03 and a 12 month high of $31.98.

Standard Chartered (OTCMKTS:SCBFF) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.09. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.59 billion. Standard Chartered had a return on equity of 10.84% and a net margin of 13.79%. As a group, equities research analysts predict that Standard Chartered will post 2.44 earnings per share for the current year.

Institutional Trading of Standard Chartered

A hedge fund recently raised its stake in Standard Chartered stock. Madison Asset Management LLC boosted its stake in Standard Chartered PLC (OTCMKTS:SCBFF) by 13.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,447 shares of the company’s stock after purchasing an additional 5,154 shares during the quarter. Madison Asset Management LLC’s holdings in Standard Chartered were worth $2,313,000 as of its most recent filing with the Securities & Exchange Commission.

About Standard Chartered

Standard Chartered PLC is an international banking group headquartered in London, United Kingdom. The company provides financial services to individuals, businesses, financial institutions and governments through operations spanning Asia, the Middle East and Africa, as well as selected markets in Europe and the Americas.

Its principal businesses include corporate, commercial and institutional banking; transaction banking; financial markets; wealth management; and retail banking. Standard Chartered offers services such as lending, trade finance, cash management, foreign exchange, investment banking, asset management, mortgages, personal banking and investment products.

The group traces its origins to the Chartered Bank of India, Australia and China, founded in 1853, and the Standard Bank of British South Africa, founded in 1862.