Standard Chartered (OTCMKTS:SCBFF) Reaches New 1-Year High - Here's Why

Key Points

• Standard Chartered hit a new 52-week high, trading as high as $29.11 before easing to $27.55, reflecting strong recent momentum in the stock.
• Analyst sentiment has improved, with several firms upgrading or maintaining bullish views; the stock now carries a consensus rating of Moderate Buy.
• The bank’s latest earnings beat expectations, with EPS of $0.72 versus $0.54 expected and revenue of $5.90 billion versus $5.58 billion forecast.

Standard Chartered PLC (OTCMKTS:SCBFF - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $29.1099 and last traded at $27.5475, with a volume of 2839 shares trading hands. The stock had previously closed at $28.0250.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SCBFF shares. Citigroup reaffirmed a "neutral" rating on shares of Standard Chartered in a report on Friday, May 1st. Morgan Stanley reiterated an "overweight" rating on shares of Standard Chartered in a research note on Wednesday, July 8th. BNP Paribas Exane upgraded shares of Standard Chartered to an "outperform" rating in a report on Tuesday, April 14th. Keefe, Bruyette & Woods raised shares of Standard Chartered from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Standard Chartered from a "hold" rating to a "buy" rating in a report on Tuesday, June 23rd. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Standard Chartered has an average rating of "Moderate Buy".

Standard Chartered Price Performance

The stock has a market cap of $62.63 billion, a P/E ratio of 13.44 and a beta of 0.69. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.50. The business's 50-day simple moving average is $26.25 and its two-hundred day simple moving average is $24.47.

Standard Chartered (OTCMKTS:SCBFF - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.18. The company had revenue of $5.90 billion for the quarter, compared to analyst estimates of $5.58 billion. Standard Chartered had a net margin of 13.63% and a return on equity of 11.07%. Sell-side analysts expect that Standard Chartered PLC will post 2.26 EPS for the current year.

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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