Standard Chartered (OTCMKTS:SCBFF) Stock Price Down 6.5% – Here’s Why

Standard Chartered PLC (OTCMKTS:SCBFF)’s stock price fell 6.5% during mid-day trading on Wednesday . The company traded as low as $22.3425 and last traded at $22.3475. 526 shares changed hands during trading, a decline of 91% from the average session volume of 5,685 shares. The stock had previously closed at $23.91.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SCBFF. The Goldman Sachs Group raised shares of Standard Chartered from a “hold” rating to a “buy” rating in a research report on Thursday, December 11th. Citigroup restated a “neutral” rating on shares of Standard Chartered in a research note on Wednesday, February 25th. Zacks Research downgraded Standard Chartered from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, January 14th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Standard Chartered Trading Down 3.7%

The business’s 50 day moving average price is $24.65 and its 200-day moving average price is $21.76. The company has a market cap of $51.05 billion, a price-to-earnings ratio of 11.94 and a beta of 0.51.

Standard Chartered (OTCMKTS:SCBFF) last released its quarterly earnings results on Tuesday, February 24th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.02). Standard Chartered had a net margin of 12.86% and a return on equity of 10.77%. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.82 billion. Equities research analysts forecast that Standard Chartered PLC will post 1.66 EPS 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.