Standard Chartered (OTCMKTS:SCBFF) Stock Price Down 6.5% – Should You Sell?

Shares of Standard Chartered PLC (OTCMKTS:SCBFF) fell 6.5% during trading on Wednesday . The company traded as low as $22.3425 and last traded at $22.3475. 526 shares were traded during mid-day trading, a decline of 91% from the average session volume of 5,685 shares. The stock had previously closed at $23.91.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Standard Chartered in a report on Wednesday, January 14th. The Goldman Sachs Group raised Standard Chartered from a “hold” rating to a “buy” rating in a report on Thursday, December 11th. Zacks Research cut Standard Chartered from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, Citigroup reissued a “neutral” rating on shares of Standard Chartered in a report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Standard Chartered Trading Down 3.7%

The company has a market cap of $51.05 billion, a price-to-earnings ratio of 11.94 and a beta of 0.51. The stock’s 50-day moving average is $24.65 and its 200-day moving average is $21.76.

Standard Chartered (OTCMKTS:SCBFF) last posted its quarterly 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). The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.82 billion. Standard Chartered had a net margin of 12.86% and a return on equity of 10.77%. As a group, analysts predict that Standard Chartered PLC will post 1.66 EPS for the current year.

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.