Standard Chartered (OTCMKTS:SCBFF) Stock Price Up 4.6% - What's Next?

Key Points

• Standard Chartered shares rose 4.6% to $31.00, though trading volume was 83% below the average session level.
• Analyst sentiment is generally positive, with five Buy ratings and three Holds, resulting in a “Moderate Buy” consensus rating.
• The bank exceeded quarterly expectations, reporting $0.75 EPS versus the $0.66 estimate and revenue of $5.70 billion versus the $5.59 billion consensus.

Shares of Standard Chartered PLC (OTCMKTS:SCBFF - Get Free Report) shot up 4.6% on Monday. The company traded as high as $31.00 and last traded at $31.00. 1,792 shares were traded during trading, a decline of 83% from the average session volume of 10,848 shares. The stock had previously closed at $29.6325.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Keefe, Bruyette & Woods upgraded shares of Standard Chartered from a "hold" rating to a "moderate buy" rating in a research note on Monday, September 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Standard Chartered from a "hold" rating to a "buy" rating in a research note on Tuesday, June 23rd. UBS Group lowered Standard Chartered from a "buy" rating to a "hold" rating in a research note on Thursday, July 23rd. Citigroup reissued a "neutral" rating on shares of Standard Chartered in a report on Wednesday. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Standard Chartered in a report on Wednesday, July 8th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy".

Standard Chartered Trading Up 0.4%

The company's 50-day moving average is $29.47 and its 200 day moving average is $26.33. The company has a market cap of $70.48 billion, a price-to-earnings ratio of 14.75 and a beta of 0.69. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 1.58.

Standard Chartered (OTCMKTS:SCBFF - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.75 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.59 billion. Research analysts predict that Standard Chartered PLC will post 2.44 EPS for the current year.

Institutional Investors Weigh In On Standard Chartered

An institutional investor 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 second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

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.

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