Standard Chartered (OTCMKTS:SCBFF) Sees Large Volume Increase - What's Next?

Key Points

• Trading activity surged, with a 354% increase in volume to 43,785 shares on Friday while the stock last traded at $22.50, barely above the prior close of $22.24.
• Analyst sentiment is mixed but mildly positive: two Buy ratings and two Hold ratings yield a consensus of "Moderate Buy", highlighted by Goldman Sachs' upgrade to Buy and Zacks' downgrade to Hold.
• Fundamentals were mixed this quarter—EPS of $0.36 missed the $0.38 consensus, though revenue topped estimates at $4.89 billion versus $4.82 billion; the company has a market cap of $51.15 billion and a PE of 11.97.

Standard Chartered PLC (OTCMKTS:SCBFF - Get Free Report) shares saw an uptick in trading volume on Friday . 43,785 shares traded hands during trading, an increase of 354% from the previous session's volume of 9,639 shares.The stock last traded at $22.50 and had previously closed at $22.24.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SCBFF. The Goldman Sachs Group upgraded shares of Standard Chartered from a "hold" rating to a "buy" rating in a report on Thursday, December 11th. Zacks Research downgraded shares of Standard Chartered from a "strong-buy" rating to a "hold" rating in a report on Monday, January 12th. Morgan Stanley restated an "overweight" rating on shares of Standard Chartered in a report on Wednesday, January 14th. Finally, Citigroup restated a "neutral" rating on shares of Standard Chartered in a report on Wednesday, February 25th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy".

Standard Chartered Price Performance

The company's fifty day moving average price is $22.73 and its 200 day moving average price is $22.16. The company has a market cap of $51.15 billion, a PE ratio of 11.97 and a beta of 0.58.

Standard Chartered (OTCMKTS:SCBFF - Get Free Report) last announced its earnings results on Tuesday, February 24th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.02). Standard Chartered had a net margin of 12.86% and a return on equity of 10.77%. The firm had revenue of $4.89 billion during the quarter, compared to analysts' expectations of $4.82 billion. On average, analysts forecast that Standard Chartered PLC will post 1.66 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.