Standard Chartered (OTCMKTS:SCBFF) Hits New 1-Year High – Should You Buy?

Standard Chartered PLC (OTCMKTS:SCBFF) reached a new 52-week high on Wednesday . The company traded as high as $28.1588 and last traded at $28.1588, with a volume of 3913 shares trading hands. The stock had previously closed at $27.21.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods upgraded Standard Chartered from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Morgan Stanley restated an “overweight” rating on shares of Standard Chartered in a research note on Wednesday. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a report on Friday, May 1st. BNP Paribas Exane upgraded Standard Chartered to an “outperform” rating in a research report on Tuesday, April 14th. Finally, Deutsche Bank Aktiengesellschaft raised Standard Chartered from a “hold” rating to a “buy” rating in a report on Tuesday, June 23rd. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Standard Chartered Stock Up 2.2%

The firm has a 50 day simple moving average of $26.12 and a two-hundred day simple moving average of $24.41. The stock has a market capitalization of $62.81 billion, a P/E ratio of 13.48 and a beta of 0.69. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.50.

Standard Chartered (OTCMKTS:SCBFF) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.18. Standard Chartered had a return on equity of 11.07% and a net margin of 13.63%.The company had revenue of $5.90 billion for the quarter, compared to analyst estimates of $5.58 billion. On average, equities research analysts expect that Standard Chartered PLC will post 2.26 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.