Standard Chartered PLC (OTCMKTS:SCBFF) Sees Large Increase in Short Interest

Standard Chartered PLC (OTCMKTS:SCBFF) was the recipient of a large growth in short interest in February. As of February 27th, there was short interest totaling 422,268 shares, a growth of 57.4% from the February 12th total of 268,303 shares. Based on an average daily volume of 10,678 shares, the short-interest ratio is currently 39.5 days. Approximately 0.0% of the shares of the stock are sold short. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 10,678 shares, the short-interest ratio is currently 39.5 days.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Morgan Stanley reaffirmed an “overweight” rating on shares of Standard Chartered in a report on Wednesday, January 14th. Zacks Research cut Standard Chartered from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a research note 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 report on Thursday, December 11th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Standard Chartered Stock Performance

SCBFF stock opened at $20.82 on Friday. Standard Chartered has a 1 year low of $10.65 and a 1 year high of $26.45. The stock’s 50 day moving average price is $24.30 and its 200 day moving average price is $21.92. The firm has a market cap of $47.34 billion, a P/E ratio of 11.08 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 the consensus estimate of $0.38 by ($0.02). Standard Chartered had a return on equity of 10.77% and a net margin of 12.86%.The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.82 billion. On average, research analysts predict that Standard Chartered will post 1.66 earnings per share 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.