Standard Chartered (OTCMKTS:SCBFF) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Standard Chartered PLC (OTCMKTS:SCBFF) saw unusually-strong trading volume on Monday . Approximately 8,579 shares traded hands during mid-day trading, an increase of 271% from the previous session’s volume of 2,314 shares.The stock last traded at $24.9050 and had previously closed at $24.3550.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Zacks Research raised Standard Chartered from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 12th. Morgan Stanley upgraded Standard Chartered from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 24th. Citigroup restated a “neutral” rating on shares of Standard Chartered in a research note on Monday, November 3rd. Finally, The Goldman Sachs Group upgraded shares of Standard Chartered from a “hold” rating to a “buy” rating in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Standard Chartered has an average rating of “Buy”.

Standard Chartered Stock Performance

The company has a 50 day simple moving average of $22.04 and a two-hundred day simple moving average of $19.61. The firm has a market cap of $56.62 billion, a PE ratio of 13.25 and a beta of 0.53.

Standard Chartered (OTCMKTS:SCBFF) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.45 by $0.06. The business had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $4.97 billion. Standard Chartered had a net margin of 12.84% and a return on equity of 10.88%. As a group, research analysts predict that Standard Chartered PLC will post 1.66 earnings per share for the current fiscal year.

Standard Chartered Company Profile

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.