Standard Chartered (OTCMKTS:SCBFF) Stock Price Up 6.5% - Here's Why

Key Points

• Shares jumped 6.5% intraday to $21.475 on Monday, but trading was thin with only 1,551 shares changing hands (down ~71% from the average session volume).
• Goldman Sachs upgraded Standard Chartered to a Buy, and with two Buy and two Hold ratings the stock carries a consensus Moderate Buy.
• In the latest quarter the bank reported EPS of $0.36 (missing estimates by $0.02) while revenue of $4.89 billion beat expectations; the stock trades at a P/E of 10.92 with a market cap of $46.66 billion.

Shares of Standard Chartered PLC (OTCMKTS:SCBFF - Get Free Report) traded up 6.5% during mid-day trading on Monday . The stock traded as high as $21.4750 and last traded at $21.4750. 1,551 shares were traded during mid-day trading, a decline of 71% from the average session volume of 5,431 shares. The stock had previously closed at $20.17.

Analysts Set New Price Targets

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

Standard Chartered Stock Performance

The firm has a market cap of $46.66 billion, a PE ratio of 10.92 and a beta of 0.58. The firm has a fifty day simple moving average of $23.04 and a two-hundred day simple moving average of $22.14.

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