Standard Chartered PLC (OTCMKTS:SCBFF) Sees Large Growth in Short Interest

Standard Chartered PLC (OTCMKTS:SCBFF) was the target of a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 268,303 shares, an increase of 27.4% from the January 29th total of 210,583 shares. Based on an average trading volume of 6,332 shares, the short-interest ratio is currently 42.4 days. Approximately 0.0% of the company’s stock are sold short. Approximately 0.0% of the company’s stock are sold short. Based on an average trading volume of 6,332 shares, the short-interest ratio is currently 42.4 days.

Standard Chartered Stock Down 2.4%

OTCMKTS:SCBFF opened at $23.33 on Wednesday. Standard Chartered has a twelve month low of $10.65 and a twelve month high of $26.45. The firm has a market capitalization of $53.03 billion, a price-to-earnings ratio of 12.41 and a beta of 0.51. The stock’s 50 day moving average price is $24.65 and its two-hundred day moving average price is $21.76.

Standard Chartered (OTCMKTS:SCBFF) last released its earnings results on Tuesday, February 24th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.02). Standard Chartered had a net margin of 12.86% and a return on equity of 10.77%. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.82 billion. As a group, analysts anticipate that Standard Chartered will post 1.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SCBFF. Morgan Stanley reissued an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, January 14th. Citigroup reissued a “neutral” rating on shares of Standard Chartered in a research report on Wednesday, February 25th. Zacks Research cut 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 shares of Standard Chartered from a “hold” rating to a “buy” rating in a research note on Thursday, December 11th. Two equities 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 has a consensus rating of “Moderate Buy”.

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.