Standard Chartered (OTCMKTS:SCBFF) Trading 5.4% Higher - Time to Buy?

Key Points

• Standard Chartered shares rose 5.4% to $30.36 in Friday trading, although volume was exceptionally light at just 156 shares versus an average of 11,609.
• Analyst sentiment remains positive overall, with four Buy ratings and four Hold ratings producing a consensus “Moderate Buy” recommendation.
• The bank exceeded quarterly expectations, reporting $0.75 EPS versus the $0.66 consensus and revenue of $5.70 billion versus $5.59 billion expected.

Standard Chartered PLC (OTCMKTS:SCBFF - Get Free Report)'s stock price rose 5.4% during trading on Friday . The stock traded as high as $30.3599 and last traded at $30.3599. 156 shares traded hands during trading, a decline of 99% from the average session volume of 11,609 shares. The stock had previously closed at $28.80.

Analysts Set New Price Targets

A number of brokerages recently commented on SCBFF. Citigroup restated a "neutral" rating on shares of Standard Chartered in a research note on Thursday, July 16th. Morgan Stanley reiterated an "overweight" rating on shares of Standard Chartered in a research report on Wednesday, July 8th. UBS Group lowered shares of Standard Chartered from a "buy" rating to a "hold" rating in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods upgraded shares of Standard Chartered from a "moderate sell" rating to a "hold" rating in a research note on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded Standard Chartered from a "hold" rating to a "buy" rating in a research report on Tuesday, June 23rd. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy".

Standard Chartered Price Performance

The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.50. The business's fifty day moving average is $28.33 and its 200 day moving average is $25.41. The firm has a market capitalization of $66.09 billion, a P/E ratio of 13.83 and a beta of 0.70.

Standard Chartered (OTCMKTS:SCBFF - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.09. Standard Chartered had a net margin of 13.79% and a return on equity of 10.97%. The firm had revenue of $5.70 billion during the quarter, compared to analysts' expectations of $5.59 billion. As a group, analysts forecast that Standard Chartered PLC will post 2.44 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Standard Chartered stock. Madison Asset Management LLC grew its holdings in Standard Chartered PLC (OTCMKTS:SCBFF - Free Report) by 13.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,447 shares of the company's stock after purchasing 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 SEC filing.

About Standard Chartered

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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