Standard Chartered (OTCMKTS:SCBFF) Hits New 12-Month High – Time to Buy?

Standard Chartered PLC (OTCMKTS:SCBFFGet Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $31.4025 and last traded at $31.4025, with a volume of 505 shares traded. The stock had previously closed at $31.18.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. UBS Group cut Standard Chartered from a “buy” rating to a “hold” rating in a report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft raised Standard Chartered from a “hold” rating to a “buy” rating in a research report on Tuesday, June 23rd. Citigroup reiterated a “neutral” rating on shares of Standard Chartered in a research note on Thursday, July 16th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, July 8th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Read Our Latest Report on Standard Chartered

Standard Chartered Stock Up 0.7%

The company’s 50 day simple moving average is $28.95 and its 200-day simple moving average is $25.83. The firm has a market capitalization of $71.39 billion, a PE ratio of 14.94 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.

Standard Chartered (OTCMKTS:SCBFFGet Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.09. Standard Chartered had a net margin of 13.79% and a return on equity of 10.84%. The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.59 billion. On average, analysts forecast that Standard Chartered PLC will post 2.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Standard Chartered stock. Madison Asset Management LLC grew its stake in shares of Standard Chartered PLC (OTCMKTS:SCBFFFree Report) by 13.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,447 shares of the company’s stock after purchasing 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

(Get Free Report)

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.

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