Standard Chartered (OTCMKTS:SCBFF) Hits New 1-Year High – Here’s What Happened

Standard Chartered PLC (OTCMKTS:SCBFF)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $31.4025 and last traded at $31.4025, with a volume of 505 shares changing hands. The stock had previously closed at $31.18.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. UBS Group lowered shares of Standard Chartered from a “buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a report on Thursday, July 16th. Morgan Stanley reiterated an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Standard Chartered from a “hold” rating to a “buy” rating in a research note on Tuesday, June 23rd. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Standard Chartered Stock Down 3.9%

The firm’s 50-day moving average is $29.08 and its two-hundred day moving average is $25.93. The stock has a market cap of $68.64 billion, a P/E ratio of 14.36 and a beta of 0.69. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.82 and a current ratio of 0.84.

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

Institutional Trading of Standard Chartered

An institutional investor recently raised its position in Standard Chartered stock. Madison Asset Management LLC boosted its position in shares of Standard Chartered PLC (OTCMKTS:SCBFF) by 13.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,447 shares of the company’s stock after purchasing an additional 5,154 shares during the quarter. Madison Asset Management LLC’s holdings in Standard Chartered were worth $2,313,000 as of its most recent SEC filing.

Standard Chartered Company Profile

Standard Chartered PLC is an international banking group headquartered in London. The company provides financial services to individuals, businesses, financial institutions and governments through operations spanning Asia, Africa, the Middle East, the United Kingdom and the Americas.

Its principal activities include corporate, commercial and institutional banking, retail banking, private banking and wealth management. Standard Chartered offers lending, trade finance, transaction banking, foreign exchange, investment banking, capital markets, cash management and investment products, along with personal banking services such as deposits, mortgages, credit cards and other forms of consumer finance in selected markets.

Standard Chartered traces its history to the formation of Chartered Bank of India, Australia and China in 1853 and the Standard Bank of British South Africa in 1862.