Standard Chartered (OTCMKTS:SCBFF) Stock Price Breaks Above Two Hundred Day Moving Average - What's Next?

Key Points

• Standard Chartered shares broke above their 200-day moving average, reaching $26.72 and last trading at $26.39, compared with the $26.13 long-term average.
• Analyst sentiment is generally positive: six analysts rate the stock a Buy and three rate it a Hold, producing a consensus rating of “Moderate Buy.”
• The bank exceeded quarterly expectations, reporting $0.75 in EPS versus the $0.66 consensus and $5.70 billion in revenue 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) crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $26.13 and traded as high as $26.72. Standard Chartered shares last traded at $26.3875, with a volume of 1,576 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Morgan Stanley restated an "overweight" rating on shares of Standard Chartered in a report on Wednesday, July 8th. Keefe, Bruyette & Woods upgraded Standard Chartered from a "hold" rating to a "moderate buy" rating in a research note on Monday, September 14th. UBS Group lowered Standard Chartered from a "buy" rating to a "hold" rating in a report on Thursday, July 23rd. Barclays upgraded shares of Standard Chartered from an "equal weight" rating to an "overweight" rating in a research note on Wednesday, October 21st. Finally, Citigroup reiterated a "neutral" rating on shares of Standard Chartered in a research note on Wednesday, September 23rd. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy".

Standard Chartered Stock Up 2.6%

The company has a market capitalization of $59.99 billion, a P/E ratio of 12.55 and a beta of 0.66. The company's 50-day moving average is $29.16 and its two-hundred day moving average is $26.13.

Standard Chartered (OTCMKTS:SCBFF - Get Free Report) last released 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. The business had revenue of $5.70 billion for the quarter, compared to analysts' expectations of $5.59 billion. Standard Chartered had a return on equity of 10.84% and a net margin of 13.79%. On average, sell-side analysts predict that Standard Chartered PLC will post 2.40 EPS for the current year.

Institutional Investors Weigh In On Standard Chartered

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

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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