Standard Chartered (OTCMKTS:SCBFF) Sees Strong Trading Volume - Time to Buy?

Key Points

• Trading volume surged 2,341% to 273,792 shares, while Standard Chartered’s stock rose to $28.58 from a previous close of $28.01.
• Analyst sentiment is generally positive but mixed: four analysts rate the stock Buy and four rate it Hold, resulting in a consensus rating of “Moderate Buy.”
• Standard Chartered beat quarterly expectations, reporting $0.72 EPS versus a $0.54 estimate and revenue of $5.90 billion versus a $5.58 billion consensus forecast.

Standard Chartered PLC (OTCMKTS:SCBFF - Get Free Report) shares saw an uptick in trading volume on Monday . 273,792 shares changed hands during trading, an increase of 2,341% from the previous session's volume of 11,215 shares.The stock last traded at $28.5797 and had previously closed at $28.0125.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SCBFF shares. Citigroup reaffirmed a "neutral" rating on shares of Standard Chartered in a research note on Thursday, July 16th. Keefe, Bruyette & Woods raised Standard Chartered from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, May 6th. UBS Group lowered Standard Chartered from a "buy" rating to a "hold" rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised Standard Chartered from a "hold" rating to a "buy" rating in a research note on Tuesday, June 23rd. Finally, BNP Paribas Exane raised Standard Chartered to an "outperform" rating in a research note on Tuesday, April 14th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Standard Chartered presently has a consensus rating of "Moderate Buy".

Standard Chartered Stock Performance

The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.82 and a current ratio of 0.82. The firm's 50 day moving average is $26.73 and its 200-day moving average is $24.69. The firm has a market cap of $64.97 billion, a price-to-earnings ratio of 13.94 and a beta of 0.69.

Standard Chartered (OTCMKTS:SCBFF - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.54 by $0.18. Standard Chartered had a net margin of 13.63% and a return on equity of 11.07%. The firm had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $5.58 billion. Sell-side analysts anticipate that Standard Chartered PLC will post 2.28 earnings per share for the current fiscal 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.

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