Standard Chartered (OTCMKTS:SCBFF) Stock Price Up 4% – Time to Buy?

Standard Chartered PLC (OTCMKTS:SCBFF)’s share price rose 4% on Thursday . The company traded as high as $31.0375 and last traded at $31.0375. 5,532 shares changed hands during trading, a decline of 52% from the average session volume of 11,417 shares. The stock had previously closed at $29.8550.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SCBFF shares. UBS Group downgraded Standard Chartered from a “buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft raised Standard Chartered from a “hold” rating to a “buy” rating in a research note on Tuesday, June 23rd. Citigroup restated a “neutral” rating on shares of Standard Chartered in a report on Thursday, July 16th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, July 8th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Standard Chartered Trading Up 2.5%

The firm has a market capitalization of $69.60 billion, a price-to-earnings ratio of 14.56 and a beta of 0.69. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.82 and a current ratio of 0.84. The business has a fifty day moving average price of $28.80 and a 200 day moving average price of $25.74.

Standard Chartered (OTCMKTS:SCBFF) last issued its earnings results on Wednesday, July 29th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. Standard Chartered had a return on equity of 10.84% and a net margin of 13.79%.The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.59 billion. As a group, equities analysts forecast that Standard Chartered PLC will post 2.44 earnings per share for the current year.

Institutional Trading of Standard Chartered

A hedge fund recently raised its position in Standard Chartered stock. Madison Asset Management LLC lifted its holdings in Standard Chartered PLC (OTCMKTS:SCBFF) by 13.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,447 shares of the company’s stock after acquiring an additional 5,154 shares during the period. Madison Asset Management LLC’s holdings in Standard Chartered were worth $2,313,000 as of its most recent SEC filing.

About Standard Chartered

Standard Chartered PLC is an international banking group headquartered in London. The company provides financial services to individuals, businesses, financial institutions and governments through operations spanning Asia, Africa, the Middle East, the United Kingdom and the Americas.

Its principal activities include corporate, commercial and institutional banking, retail banking, private banking and wealth management. Standard Chartered offers lending, trade finance, transaction banking, foreign exchange, investment banking, capital markets, cash management and investment products, along with personal banking services such as deposits, mortgages, credit cards and other forms of consumer finance in selected markets.

Standard Chartered traces its history to the formation of Chartered Bank of India, Australia and China in 1853 and the Standard Bank of British South Africa in 1862.