Standard Chartered (OTCMKTS:SCBFY) Sets New 12-Month High – Should You Buy?

Standard Chartered PLC (OTCMKTS:SCBFY)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $58.12 and last traded at $57.85, with a volume of 9512 shares trading hands. The stock had previously closed at $57.01.

Wall Street Analysts Forecast Growth

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

Standard Chartered Stock Up 1.0%

The firm has a 50 day simple moving average of $53.64 and a 200 day simple moving average of $49.85.

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.