Standard Chartered (OTCMKTS:SCBFF) Trading Down 5.5% – Time to Sell?

Standard Chartered PLC (OTCMKTS:SCBFF) dropped 5.5% during mid-day trading on Friday . The company traded as low as $20.4375 and last traded at $20.4375. Approximately 611 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 5,311 shares. The stock had previously closed at $21.6325.

Wall Street Analyst Weigh In

SCBFF has been the subject of a number of recent research reports. Morgan Stanley reaffirmed an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, January 14th. Zacks Research lowered shares of Standard Chartered from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Citigroup restated a “neutral” rating on shares of Standard Chartered in a research report on Wednesday, February 25th. Finally, The Goldman Sachs Group upgraded shares of Standard Chartered from a “hold” rating to a “buy” rating in a research note on Thursday, December 11th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Standard Chartered presently has a consensus rating of “Moderate Buy”.

Standard Chartered Stock Down 5.6%

The stock’s fifty day simple moving average is $24.37 and its 200-day simple moving average is $21.91. The company has a market capitalization of $46.44 billion, a PE ratio of 10.87 and a beta of 0.51.

Standard Chartered (OTCMKTS:SCBFF) last released its quarterly earnings results on Tuesday, February 24th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.02). The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.82 billion. Standard Chartered had a return on equity of 10.77% and a net margin of 12.86%. Analysts expect that Standard Chartered PLC will post 1.66 EPS for the current year.

Standard Chartered Company Profile

Standard Chartered plc is a British multinational banking and financial services company headquartered in London. The firm traces its modern form to the 1969 merger of the Chartered Bank of India, Australia and China (founded in 1853) and Standard Bank of British South Africa (founded in 1862), creating an international bank with deep historical roots in trade finance and cross-border banking. Standard Chartered maintains a global footprint and a long-standing focus on facilitating trade and capital flows between developed and emerging markets.

Standard Chartered provides a broad range of banking and financial services for corporate, institutional and individual clients.