Standard Chartered (OTCMKTS:SCBFF) Announces Earnings Results

Standard Chartered (OTCMKTS:SCBFF) released its earnings results on Wednesday. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10, Zacks reports. The business had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.63 billion. Standard Chartered had a net margin of 13.79% and a return on equity of 10.84%.

Standard Chartered Stock Up 6.3%

OTCMKTS:SCBFF opened at $28.27 on Thursday. Standard Chartered has a 52 week low of $19.53 and a 52 week high of $31.98. The company has a market capitalization of $64.28 billion, a P/E ratio of 13.45 and a beta of 0.66. The stock’s fifty day moving average is $29.00 and its two-hundred day moving average is $26.17.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SCBFF. Citigroup reiterated a “neutral” rating on shares of Standard Chartered in a research report on Wednesday, September 23rd. Barclays upgraded Standard Chartered from an “equal weight” rating to an “overweight” rating in a report on Wednesday, October 21st. Morgan Stanley reaffirmed an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, July 8th. UBS Group lowered Standard Chartered from a “buy” rating to a “hold” rating in a report on Thursday, July 23rd. Finally, Keefe, Bruyette & Woods upgraded Standard Chartered from a “hold” rating to a “moderate buy” rating in a report on Monday, September 14th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

About Standard Chartered

Standard Chartered PLC is an international banking group headquartered in London, United Kingdom. The company provides banking and financial services to individuals, businesses, financial institutions and governments, with a particular focus on markets across Asia, Africa and the Middle East.

Its principal businesses include corporate and institutional banking, commercial banking, wealth management, private banking and consumer banking. Products and services include transaction banking, trade finance, lending, cash management, investment banking, foreign exchange, capital markets, investment services, mortgages, personal loans and deposit accounts.

Standard Chartered traces its origins to the Chartered Bank of India, Australia and China, founded in 1853, and the Standard Bank of British South Africa, founded in 1863.