Standard Chartered (OTCMKTS:SCBFY) Hits New 52-Week High – Here’s What Happened

Standard Chartered PLC (OTCMKTS:SCBFY) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $58.26 and last traded at $57.71, with a volume of 53825 shares traded. The stock had previously closed at $56.15.

Wall Street Analysts Forecast Growth

Separately, Zacks Research downgraded shares of Standard Chartered from a “strong-buy” rating to a “hold” rating in a research report on Monday. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

Standard Chartered Price Performance

The company’s fifty day moving average price is $54.71 and its 200 day moving average price is $50.35.

About Standard Chartered

Standard Chartered PLC is a leading international banking group headquartered in London, with a heritage dating back to the 19th century. The bank was formed in 1969 through the merger of Standard Bank of British South Africa and Chartered Bank of India, Australia and China, combining deep roots in emerging markets with a global footprint. Over more than 150 years of operations, Standard Chartered has built a reputation for expertise in trade finance, corporate banking and cross-border transactions.

The company offers a broad range of financial products and services, including corporate and institutional banking, retail banking, wealth management, treasury and capital markets solutions.