Standard Chartered (OTCMKTS:SCBFF) Reaches New 12-Month High - What's Next?

Key Points

• Standard Chartered shares reached a new 12-month high of $31.00, up from the previous close of $29.40, with 3,268 shares traded.
• Analyst sentiment is moderately bullish: four analysts rate the stock “Buy” and four rate it “Hold.” Deutsche Bank upgraded the shares to “Buy,” while UBS downgraded them to “Hold.”
• The bank exceeded quarterly expectations, reporting $0.75 in EPS versus a $0.66 estimate and revenue of $5.70 billion versus $5.59 billion expected. Madison Asset Management also increased its stake by 13.8% during the second quarter.

Standard Chartered PLC (OTCMKTS:SCBFF - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $31.00 and last traded at $31.00, with a volume of 3268 shares trading hands. The stock had previously closed at $29.4001.

Analyst Ratings Changes

Several brokerages have recently commented on SCBFF. Deutsche Bank Aktiengesellschaft upgraded Standard Chartered from a "hold" rating to a "buy" rating in a research note on Tuesday, June 23rd. UBS Group downgraded Standard Chartered from a "buy" rating to a "hold" rating in a report on Thursday, July 23rd. Citigroup reaffirmed a "neutral" rating on shares of Standard Chartered in a research report on Thursday, July 16th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Standard Chartered in a report on Wednesday, July 8th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy".

Standard Chartered Stock Performance

The firm has a market capitalization of $70.48 billion, a price-to-earnings ratio of 14.75 and a beta of 0.69. The company has a fifty day moving average of $28.66 and a two-hundred day moving average of $25.65. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.82 and a current ratio of 0.84.

Standard Chartered (OTCMKTS:SCBFF - Get Free Report) last issued its quarterly earnings data 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 return on equity of 10.84% and a net margin of 13.79%.The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.59 billion. As a group, equities research analysts predict that Standard Chartered PLC will post 2.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Standard Chartered

A hedge fund recently raised its position in Standard Chartered stock. Madison Asset Management LLC increased its position in shares of Standard Chartered PLC (OTCMKTS:SCBFF - Free Report) by 13.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,447 shares of the company's stock after acquiring an additional 5,154 shares during the period. Madison Asset Management LLC's holdings in Standard Chartered were worth $2,313,000 as of its most recent filing with the Securities and Exchange Commission.

Standard Chartered Company Profile

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.

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