Standard Chartered PLC (OTCMKTS:SCBFF – Get Free Report) shares gapped up prior to trading on Tuesday. The stock had previously closed at $27.9950, but opened at $29.64. Standard Chartered shares last traded at $29.64, with a volume of 307 shares trading hands.
Analysts Set New Price Targets
Several brokerages have commented on SCBFF. Citigroup restated a “neutral” rating on shares of Standard Chartered in a report on Wednesday, September 23rd. Deutsche Bank Aktiengesellschaft raised shares of Standard Chartered from a “hold” rating to a “buy” rating in a research report on Tuesday, June 23rd. UBS Group lowered shares of Standard Chartered from a “buy” rating to a “hold” rating in a report on Thursday, July 23rd. Morgan Stanley reaffirmed an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, July 8th. Finally, Keefe, Bruyette & Woods raised shares of 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 company. According to MarketBeat.com, Standard Chartered has an average rating of “Moderate Buy”.
Get Our Latest Analysis on Standard Chartered
Standard Chartered Stock Down 3.0%
Standard Chartered (OTCMKTS:SCBFF – Get Free Report) last issued 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 firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.59 billion. On average, equities research analysts forecast that Standard Chartered PLC will post 2.44 EPS for the current fiscal year.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in Standard Chartered stock. Madison Asset Management LLC lifted its stake in shares of Standard Chartered PLC (OTCMKTS:SCBFF – Free Report) by 13.8% during the second quarter, according to the company in its most recent 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 at the end of the most recent quarter.
Standard Chartered Company Profile
Standard Chartered PLC is an international banking group headquartered in London, United Kingdom. The company provides financial services to individuals, businesses, financial institutions and governments through operations spanning Asia, the Middle East and Africa, as well as selected markets in Europe and the Americas.
Its principal businesses include corporate, commercial and institutional banking; transaction banking; financial markets; wealth management; and retail banking. Standard Chartered offers services such as lending, trade finance, cash management, foreign exchange, investment banking, asset management, mortgages, personal banking and investment products.
The group 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 1862.
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