Standard Chartered (OTCMKTS:SCBFF) Cut to Hold at Barclays

Key Points

• Barclays downgraded Standard Chartered from “strong buy” to “hold,” while other analysts remain mixed; the stock carries an overall “Moderate Buy” consensus rating.
• Standard Chartered exceeded quarterly expectations, reporting EPS of $0.67 versus the $0.57 consensus and revenue of $5.78 billion versus $5.63 billion expected.
• SCBFF opened at $27.14, with a market capitalization of $61.70 billion and a 52-week trading range of $19.53 to $31.98; Madison Asset Management increased its holdings by 13.8% during the second quarter.

Standard Chartered (OTCMKTS:SCBFF - Get Free Report) was downgraded by equities researchers at Barclays from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Thursday, Zacks reports.

A number of other equities analysts also recently issued reports on SCBFF. Citigroup restated a "neutral" rating on shares of Standard Chartered in a research note on Wednesday, September 23rd. Morgan Stanley reiterated an "overweight" rating on shares of Standard Chartered in a research report on Wednesday, July 8th. UBS Group downgraded Standard Chartered from a "buy" rating to a "hold" rating in a report on Thursday, July 23rd. Finally, Keefe, Bruyette & Woods raised Standard Chartered from a "hold" rating to a "moderate buy" rating in a research report on Monday, September 14th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy".

Standard Chartered Price Performance

SCBFF opened at $27.14 on Thursday. The stock has a 50-day moving average price of $28.95 and a 200-day moving average price of $26.20. The firm has a market cap of $61.70 billion, a PE ratio of 11.59 and a beta of 0.66. Standard Chartered has a 1 year low of $19.53 and a 1 year high of $31.98.

Standard Chartered (OTCMKTS:SCBFF - Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10. The business had revenue of $5.78 billion for the quarter, compared to analysts' expectations of $5.63 billion. Standard Chartered had a return on equity of 11.35% and a net margin of 14.76%. As a group, sell-side analysts anticipate that Standard Chartered will post 2.40 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Standard Chartered stock. Madison Asset Management LLC raised its position in shares of Standard Chartered PLC (OTCMKTS:SCBFF - Free Report) by 13.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Standard Chartered Company Profile

Standard Chartered PLC is an international banking group headquartered in London, United Kingdom. The company provides banking and financial services to individuals, businesses, financial institutions and governments, with a particular focus on markets across Asia, Africa and the Middle East.

Its principal businesses include corporate and institutional banking, commercial banking, wealth management, private banking and consumer banking. Products and services include transaction banking, trade finance, lending, cash management, investment banking, foreign exchange, capital markets, investment services, mortgages, personal loans and deposit accounts.

Standard Chartered 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 1863.

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