Standard Chartered (OTCMKTS:SCBFF) Reaches New 12-Month High – What’s Next?

Standard Chartered PLC (OTCMKTS:SCBFF)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $31.00 and last traded at $31.00, with a volume of 3268 shares traded. The stock had previously closed at $29.4001.

Analysts Set New Price Targets

SCBFF has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft raised Standard Chartered from a “hold” rating to a “buy” rating in a research note on Tuesday, June 23rd. Citigroup restated a “neutral” rating on shares of Standard Chartered in a research note on Thursday, July 16th. UBS Group lowered shares of Standard Chartered from a “buy” rating to a “hold” rating in a report on Thursday, July 23rd. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, July 8th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Standard Chartered Stock Performance

The firm has a market capitalization of $70.48 billion, a P/E ratio of 14.75 and a beta of 0.69. The company has a 50-day moving average of $28.66 and a 200-day moving average of $25.65. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 1.58.

Standard Chartered (OTCMKTS:SCBFF) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. Standard Chartered had a return on equity of 10.84% and a net margin of 13.79%.The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.59 billion. On average, equities analysts anticipate that Standard Chartered PLC will post 2.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Standard Chartered

An institutional investor recently raised its stake in Standard Chartered stock. Madison Asset Management LLC increased its position in shares of Standard Chartered PLC (OTCMKTS:SCBFF) by 13.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,447 shares of the company’s stock after buying an additional 5,154 shares during the period. Madison Asset Management LLC’s holdings in Standard Chartered were worth $2,313,000 at the end of the most recent reporting period.

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.