Standard Chartered PLC (OTCMKTS:SCBFF – Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $31.00 and last traded at $31.00, with a volume of 3268 shares trading hands. The stock had previously closed at $29.4001.
Analyst Upgrades and Downgrades
SCBFF has been the topic of several research reports. Morgan Stanley reissued an “overweight” rating on shares of Standard Chartered in a report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft upgraded Standard Chartered from a “hold” rating to a “buy” rating in a report on Tuesday, June 23rd. UBS Group downgraded Standard Chartered from a “buy” rating to a “hold” rating in a report on Thursday, July 23rd. Finally, Citigroup reiterated a “neutral” rating on shares of Standard Chartered in a report on Thursday, July 16th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Standard Chartered presently has an average rating of “Moderate Buy”.
Check Out Our Latest Report on Standard Chartered
Standard Chartered Stock Down 4.0%
Standard Chartered (OTCMKTS:SCBFF – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.66 by $0.09. The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.59 billion. Standard Chartered had a return on equity of 10.84% and a net margin of 13.79%. On average, analysts forecast that Standard Chartered PLC will post 2.44 EPS for the current year.
Institutional Investors Weigh In On Standard Chartered
A hedge fund recently raised its position in Standard Chartered stock. Madison Asset Management LLC increased its stake in Standard Chartered PLC (OTCMKTS:SCBFF – Free Report) by 13.8% in the second quarter, according to its most recent 13F filing with the Securities & 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 filing with the Securities & Exchange Commission.
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.
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