Standard Chartered (OTCMKTS:SCBFF) Sees Strong Trading Volume – Should You Buy?

Shares of Standard Chartered PLC (OTCMKTS:SCBFF) saw strong trading volume on Tuesday . 16,689 shares changed hands during mid-day trading, an increase of 191% from the previous session’s volume of 5,742 shares.The stock last traded at $23.15 and had previously closed at $24.0588.

Analysts Set New Price Targets

A number of research analysts have recently commented on SCBFF shares. Morgan Stanley reaffirmed an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, January 14th. Zacks Research downgraded Standard Chartered from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. The Goldman Sachs Group upgraded Standard Chartered from a “hold” rating to a “buy” rating in a research note on Thursday, December 11th. Finally, Citigroup restated a “neutral” rating on shares of Standard Chartered in a report on Friday, January 9th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Standard Chartered Stock Performance

The company’s 50 day moving average price is $24.60 and its 200-day moving average price is $21.53. The stock has a market cap of $55.31 billion, a P/E ratio of 12.94 and a beta of 0.52.

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.