Standard Chartered (OTCMKTS:SCBFF) Upgraded at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods upgraded Standard Chartered from a “moderate sell” to a “hold,” adding to a mixed but generally balanced analyst view of the stock.
• The company reported better-than-expected quarterly results, with EPS of $0.72 versus the $0.54 estimate and revenue of $5.90 billion versus $5.58 billion expected.
• Standard Chartered shares were up 2.7% and traded near their 52-week high, while analysts currently hold a consensus rating of Moderate Buy.

Standard Chartered (OTCMKTS:SCBFF - Get Free Report) was upgraded by Keefe, Bruyette & Woods from a "moderate sell" rating to a "hold" rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other research analysts also recently issued reports about the company. Citigroup reiterated a "neutral" rating on shares of Standard Chartered in a report on Friday, May 1st. Morgan Stanley restated an "overweight" rating on shares of Standard Chartered in a report on Monday, April 13th. Zacks Research downgraded Standard Chartered from a "strong-buy" rating to a "hold" rating in a report on Monday, January 12th. Finally, BNP Paribas Exane upgraded Standard Chartered to an "outperform" rating in a report on Tuesday, April 14th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy".

Standard Chartered Trading Up 2.7%

Shares of SCBFF opened at $25.94 on Wednesday. The stock has a fifty day moving average of $22.50 and a two-hundred day moving average of $22.80. 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 company has a market capitalization of $58.97 billion, a PE ratio of 12.65 and a beta of 0.68. Standard Chartered has a fifty-two week low of $13.97 and a fifty-two week high of $26.45.

Standard Chartered (OTCMKTS:SCBFF - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.18. The company had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.58 billion. Standard Chartered had a return on equity of 11.07% and a net margin of 13.63%. As a group, analysts forecast that Standard Chartered 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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