Standard Chartered (OTCMKTS:SCBFF) Trading Up 3.1% – Here’s What Happened

Standard Chartered PLC (OTCMKTS:SCBFF)’s stock price rose 3.1% during trading on Wednesday . The company traded as high as $24.3875 and last traded at $24.3875. Approximately 939 shares traded hands during trading, a decline of 95% from the average daily volume of 20,025 shares. The stock had previously closed at $23.65.

Analysts Set New Price Targets

SCBFF has been the subject of a number of analyst reports. Zacks Research upgraded shares of Standard Chartered from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 12th. Morgan Stanley raised Standard Chartered from an “equal weight” rating to an “overweight” rating in a report on Monday, November 24th. Citigroup reiterated a “neutral” rating on shares of Standard Chartered in a research report on Monday, November 3rd. Finally, The Goldman Sachs Group upgraded shares of Standard Chartered from a “hold” rating to a “buy” rating in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Standard Chartered has a consensus rating of “Buy”.

Standard Chartered Stock Performance

The business has a fifty day simple moving average of $21.67 and a 200-day simple moving average of $19.43. The firm has a market cap of $56.18 billion, a price-to-earnings ratio of 13.14 and a beta of 0.54.

Standard Chartered (OTCMKTS:SCBFF) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. Standard Chartered had a return on equity of 10.88% and a net margin of 12.84%.The company had revenue of $5.15 billion for the quarter, compared to analyst estimates of $4.97 billion. On average, equities analysts anticipate that Standard Chartered PLC will post 1.66 earnings per share 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.