Standard Chartered (OTCMKTS:SCBFF) Stock Price Up 7.8% – Time to Buy?

Standard Chartered PLC (OTCMKTS:SCBFF) traded up 7.8% during mid-day trading on Monday . The stock traded as high as $24.01 and last traded at $24.01. 190 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 20,871 shares. The stock had previously closed at $22.27.

Wall Street Analyst Weigh In

SCBFF has been the subject of several research analyst reports. Citigroup restated a “neutral” rating on shares of Standard Chartered in a research report on Monday, November 3rd. Morgan Stanley raised Standard Chartered from an “equal weight” rating to an “overweight” rating in a report on Monday, November 24th. Finally, The Goldman Sachs Group upgraded Standard Chartered from a “hold” rating to a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Standard Chartered Stock Up 1.3%

The firm has a market capitalization of $53.99 billion, a PE ratio of 12.63 and a beta of 0.54. The business has a 50-day moving average price of $20.55 and a 200-day moving average price of $18.73.

Standard Chartered (OTCMKTS:SCBFF) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. Standard Chartered had a return on equity of 10.88% and a net margin of 12.84%.The company had revenue of $5.15 billion for the quarter, compared to analyst estimates of $4.97 billion. On average, equities research analysts anticipate that Standard Chartered PLC will post 1.66 earnings per share for the current year.

Standard Chartered Company Profile

Standard Chartered PLC, together with its subsidiaries, provides various banking products and services in Asia, Africa, the Middle East, Europe, and the Americas. The company operates in three segments: Corporate, Commercial & Institutional Banking; Consumer, Private & Business Banking; and Ventures.