Standard Chartered PLC (OTCMKTS:SCBFF) Stock Now Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Standard Chartered has a “Moderate Buy” consensus rating from nine analysts: six recommend buying the stock, while three rate it a hold. Recent actions included upgrades from Keefe, Bruyette & Woods and Barclays, alongside a downgrade from UBS.
• Shares opened at $27.14, down 4.4%, with a 12-month range of $19.53 to $31.98 and a market capitalization of approximately $61.7 billion.
• The bank exceeded quarterly expectations, reporting $0.67 in EPS versus the $0.57 estimate and revenue of $5.78 billion versus the $5.63 billion consensus. Madison Asset Management also increased its stake by 13.8% during the second quarter.

Standard Chartered PLC (OTCMKTS:SCBFF - Get Free Report) has received a consensus rating of "Moderate Buy" from the nine brokerages that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company.

A number of brokerages have recently issued reports on SCBFF. UBS Group lowered Standard Chartered from a "buy" rating to a "hold" rating in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods raised shares of Standard Chartered from a "hold" rating to a "moderate buy" rating in a research note on Monday, September 14th. Morgan Stanley reiterated an "overweight" rating on shares of Standard Chartered in a report on Wednesday, July 8th. Barclays raised shares of Standard Chartered from an "equal weight" rating to an "overweight" rating in a research note on Wednesday, October 21st. Finally, Citigroup reaffirmed a "neutral" rating on shares of Standard Chartered in a report on Wednesday, September 23rd.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Standard Chartered stock. Madison Asset Management LLC boosted its holdings in shares of Standard Chartered PLC (OTCMKTS:SCBFF - Free Report) by 13.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,447 shares of the company's stock after acquiring 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 quarter.

Standard Chartered Trading Down 4.4%

Shares of OTCMKTS:SCBFF opened at $27.14 on Friday. Standard Chartered has a twelve month low of $19.53 and a twelve month high of $31.98. The company has a market cap of $61.70 billion, a PE ratio of 11.59 and a beta of 0.66. The company's 50 day moving average is $28.95 and its 200 day moving average is $26.20.

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

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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