Standard Chartered PLC (OTCMKTS:SCBFF) Sees Significant Decrease in Short Interest

Key Points

• Standard Chartered PLC experienced a significant decline in short interest, with a decrease of 40.1% in September to 128,600 shares.
• Citigroup reiterated a "neutral" rating on Standard Chartered, contributing to an average Hold rating from two equities research analysts.
• Standard Chartered's stock rose by 4.2%, reaching $19.81, with hopes for an earnings per share (EPS) of 1.66 for the current year.

Standard Chartered PLC (OTCMKTS:SCBFF - Get Free Report) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 128,600 shares, a decline of 40.1% from the August 31st total of 214,600 shares. Based on an average daily volume of 125,700 shares, the days-to-cover ratio is currently 1.0 days. Based on an average daily volume of 125,700 shares, the days-to-cover ratio is currently 1.0 days.

Wall Street Analyst Weigh In

Separately, Citigroup reissued a "neutral" rating on shares of Standard Chartered in a research note on Monday, September 22nd. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of "Hold".

Standard Chartered Stock Up 4.2%

OTCMKTS SCBFF traded up $0.81 on Friday, hitting $19.81. The company's stock had a trading volume of 1,265 shares, compared to its average volume of 35,001. The firm has a market cap of $46.21 billion, a PE ratio of 10.94 and a beta of 0.74. The company's 50-day moving average is $18.79 and its 200 day moving average is $16.44. Standard Chartered has a 1-year low of $10.25 and a 1-year high of $20.01.

Standard Chartered (OTCMKTS:SCBFF - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.14. The business had revenue of $5.51 billion during the quarter, compared to the consensus estimate of $5.07 billion. Standard Chartered had a return on equity of 10.73% and a net margin of 12.27%. On average, equities analysts expect that Standard Chartered will post 1.66 EPS for the current year.

Standard Chartered Company Profile

Standard Chartered PLC, together with its subsidiaries, provides various banking products and services in Asia, Africa, the Middle East, Europe, and the Americas. The company operates in three segments: Corporate, Commercial & Institutional Banking; Consumer, Private & Business Banking; and Ventures.

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