Standard Chartered (OTCMKTS:SCBFF) Upgraded at Keefe, Bruyette & Woods

Standard Chartered (OTCMKTS:SCBFF) was upgraded by research analysts at Keefe, Bruyette & Woods from a “hold” rating to a “moderate buy” rating in a note issued to investors on Monday, Zacks reports.

Other analysts have also recently issued research reports about the stock. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a report on Thursday, July 16th. Morgan Stanley reaffirmed an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft raised Standard Chartered from a “hold” rating to a “buy” rating in a report on Tuesday, June 23rd. Finally, UBS Group cut Standard Chartered from a “buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Standard Chartered Stock Up 2.3%

Shares of OTCMKTS SCBFF opened at $30.88 on Monday. The stock has a market cap of $70.21 billion, a P/E ratio of 14.69 and a beta of 0.69. The business’s fifty day simple moving average is $29.15 and its 200-day simple moving average is $25.97. Standard Chartered has a 12-month low of $18.03 and a 12-month high of $31.40. 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 issued its quarterly earnings results 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. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.59 billion. Standard Chartered had a return on equity of 10.84% and a net margin of 13.79%. As a group, equities analysts predict that Standard Chartered will post 2.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Standard Chartered stock. Madison Asset Management LLC raised its holdings in Standard Chartered PLC (OTCMKTS:SCBFF) by 13.8% during the second quarter, according to the company in its most recent Form 13F filing 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 filing with the SEC.

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.