Standard Chartered (OTCMKTS:SCBFF) Upgraded at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Standard Chartered (OTCMKTS:SCBFF) from a hold rating to a moderate buy rating in a research report sent to investors on Monday morning,Zacks reports.

SCBFF has been the subject of several other reports. Morgan Stanley restated an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft upgraded Standard Chartered from a “hold” rating to a “buy” rating in a research note on Tuesday, June 23rd. Citigroup restated a “neutral” rating on shares of Standard Chartered in a report on Thursday, July 16th. Finally, UBS Group lowered shares of Standard Chartered from a “buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Standard Chartered Price Performance

OTCMKTS SCBFF opened at $30.88 on Monday. The company has a 50-day moving average price of $29.15 and a 200-day moving average price of $25.97. Standard Chartered has a 52 week low of $18.03 and a 52 week high of $31.40. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $70.21 billion, a P/E ratio of 14.69 and a beta of 0.69.

Standard Chartered (OTCMKTS:SCBFF) last announced its earnings results on Wednesday, July 29th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. Standard Chartered had a net margin of 13.79% and a return on equity of 10.84%. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.59 billion. Equities research analysts anticipate that Standard Chartered will post 2.44 earnings per share for the current year.

Hedge Funds Weigh In On Standard Chartered

An institutional investor recently raised its stake in Standard Chartered stock. Madison Asset Management LLC boosted its holdings in shares of Standard Chartered PLC (OTCMKTS:SCBFF) by 13.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,447 shares of the company’s stock after buying an additional 5,154 shares during the quarter. Madison Asset Management LLC’s holdings in Standard Chartered were worth $2,313,000 at the end of the most recent reporting period.

Standard Chartered Company Profile

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

Its principal activities include corporate, commercial and institutional banking, retail banking, private banking and wealth management. Standard Chartered offers lending, trade finance, transaction banking, foreign exchange, investment banking, capital markets, cash management and investment products, along with personal banking services such as deposits, mortgages, credit cards and other forms of consumer finance in selected markets.

Standard Chartered traces its history to the formation of Chartered Bank of India, Australia and China in 1853 and the Standard Bank of British South Africa in 1862.