Standard Chartered (OTCMKTS:SCBFF) Sees Large Volume Increase – Still a Buy?

Standard Chartered PLC (OTCMKTS:SCBFF) saw an uptick in trading volume on Tuesday . 12,573 shares changed hands during trading, an increase of 56% from the previous session’s volume of 8,045 shares.The stock last traded at $24.75 and had previously closed at $24.9075.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SCBFF shares. Citigroup reissued a “neutral” rating on shares of Standard Chartered in a research note on Friday, January 9th. Morgan Stanley reissued an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, January 14th. Zacks Research downgraded shares of Standard Chartered from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Finally, The Goldman Sachs Group raised Standard Chartered from a “hold” rating to a “buy” rating in a research note on Thursday, December 11th. 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.com, the stock presently has a consensus rating of “Moderate Buy”.

Standard Chartered Stock Performance

The firm has a market capitalization of $57.05 billion, a P/E ratio of 13.35 and a beta of 0.53. The stock’s 50 day simple moving average is $23.21 and its 200 day simple moving average is $20.40.

Standard Chartered (OTCMKTS:SCBFF) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.06. Standard Chartered had a net margin of 12.84% and a return on equity of 10.88%. The firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $4.97 billion. On average, analysts anticipate that Standard Chartered PLC will post 1.66 earnings per share 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.