Barclays downgraded shares of Standard Chartered (OTCMKTS:SCBFF – Free Report) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday morning,Zacks reports.
SCBFF has been the topic of several other research reports. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a report on Wednesday, September 23rd. 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. Morgan Stanley restated an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, July 8th. Finally, UBS Group lowered Standard Chartered from a “buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Standard Chartered has an average rating of “Moderate Buy”.
Check Out Our Latest Stock Report on SCBFF
Standard Chartered Stock Performance
Shares of SCBFF opened at $27.14 on Thursday. Standard Chartered has a fifty-two week low of $19.53 and a fifty-two week high of $31.98. The firm has a 50-day simple moving average of $28.95 and a 200-day simple moving average of $26.20. The company has a market capitalization of $61.70 billion, a price-to-earnings ratio of 11.59 and a beta of 0.66.
Standard Chartered (OTCMKTS:SCBFF – Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10. The firm had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.63 billion. Standard Chartered had a return on equity of 11.35% and a net margin of 14.76%. Equities research analysts forecast that Standard Chartered will post 2.40 EPS for the current year.
Hedge Funds Weigh In On Standard Chartered
An institutional investor recently raised its position in Standard Chartered stock. Madison Asset Management LLC increased its position 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 Form 13F filing with the SEC. The fund owned 42,447 shares of the company’s stock after acquiring 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 filing with the SEC.
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.
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