Standard Chartered (OTCMKTS:SCBFF) Sees Large Volume Increase – Still a Buy?

Standard Chartered PLC (OTCMKTS:SCBFF) saw strong trading volume on Tuesday . 17,301 shares traded hands during mid-day trading, an increase of 70% from the previous session’s volume of 10,160 shares.The stock last traded at $26.55 and had previously closed at $26.5075.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of Standard Chartered from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Morgan Stanley reiterated an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, May 13th. BNP Paribas Exane upgraded shares of Standard Chartered to an “outperform” rating in a research note on Tuesday, April 14th. Finally, Citigroup reiterated a “neutral” rating on shares of Standard Chartered in a research note on Friday, May 1st. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Standard Chartered Price Performance

The business’s 50-day moving average price is $24.69 and its 200 day moving average price is $23.85. The stock has a market capitalization of $60.60 billion, a PE ratio of 13.00 and a beta of 0.68. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.82 and a current ratio of 0.82.

Standard Chartered (OTCMKTS:SCBFF) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18. The firm had revenue of $5.90 billion during the quarter, compared to analyst estimates of $5.58 billion. Standard Chartered had a net margin of 13.63% and a return on equity of 11.07%. Research analysts forecast that Standard Chartered PLC will post 2.26 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.