Standard Chartered (OTCMKTS:SCBFF) Stock Price Down 8.6% – Here’s What Happened

Shares of Standard Chartered PLC (OTCMKTS:SCBFF) were down 8.6% during trading on Thursday . The stock traded as low as $19.7525 and last traded at $19.7525. Approximately 483 shares changed hands during trading, a decline of 92% from the average daily volume of 6,035 shares. The stock had previously closed at $21.6025.

Analyst Ratings Changes

Several brokerages have issued reports on SCBFF. Morgan Stanley reaffirmed an “overweight” rating on shares of Standard Chartered in a report on Wednesday, January 14th. 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 report on Wednesday, February 25th. Finally, Zacks Research cut Standard Chartered from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Standard Chartered Stock Performance

The stock has a 50-day simple moving average of $23.88 and a two-hundred day simple moving average of $21.98. The firm has a market cap of $45.45 billion, a PE ratio of 10.63 and a beta of 0.51.

Standard Chartered (OTCMKTS:SCBFF) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.82 billion. As a group, sell-side analysts anticipate 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.