Shares of Standard Chartered PLC (OTCMKTS:SCBFF – Get Free Report) gapped up before the market opened on Friday. The stock had previously closed at $29.47, but opened at $30.6075. Standard Chartered shares last traded at $30.6075, with a volume of 375 shares traded.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. UBS Group downgraded shares of Standard Chartered from a “buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Morgan Stanley reaffirmed an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, July 8th. Citigroup reissued a “neutral” rating on shares of Standard Chartered in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised Standard Chartered from a “hold” rating to a “buy” rating in a report on Tuesday, June 23rd. Finally, Keefe, Bruyette & Woods upgraded Standard Chartered from a “hold” rating to a “moderate buy” rating in a research note on Monday, September 14th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.
Read Our Latest Research Report on SCBFF
Standard Chartered Stock Performance
Standard Chartered (OTCMKTS:SCBFF – Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.75 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $5.59 billion. Equities analysts forecast that Standard Chartered PLC will post 2.44 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
An institutional investor recently raised its position in Standard Chartered stock. Madison Asset Management LLC boosted its stake in shares of Standard Chartered PLC (OTCMKTS:SCBFF – Free Report) by 13.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,447 shares of the company’s stock after buying an additional 5,154 shares during the quarter. Madison Asset Management LLC’s holdings in Standard Chartered were worth $2,313,000 as of its most recent SEC filing.
Standard Chartered Company Profile
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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