Standard Chartered (OTCMKTS:SCBFF) Sees Large Volume Increase – What’s Next?

Standard Chartered PLC (OTCMKTS:SCBFF) saw strong trading volume on Friday . 43,785 shares changed hands during trading, an increase of 354% from the previous session’s volume of 9,639 shares.The stock last traded at $22.50 and had previously closed at $22.24.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Zacks Research downgraded shares of Standard Chartered from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Citigroup restated a “neutral” rating on shares of Standard Chartered in a report on Wednesday, February 25th. Morgan Stanley restated an “overweight” rating on shares of Standard Chartered in a report on Wednesday, January 14th. 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. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy”.

Standard Chartered Stock Up 1.2%

The business’s 50-day moving average price is $22.73 and its 200 day moving average price is $22.16. The company has a market capitalization of $51.15 billion, a P/E ratio of 11.97 and a beta of 0.58.

Standard Chartered (OTCMKTS:SCBFF) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.36 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 firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.82 billion. Analysts anticipate that Standard Chartered PLC will post 1.66 EPS for the current fiscal year.

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.