Standard Chartered PLC (OTCMKTS:SCBFF) Stock Rated “Moderate Buy” by Wall Street Analysts

Standard Chartered PLC (OTCMKTS:SCBFF) has been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company.

SCBFF has been the topic of several research analyst reports. Keefe, Bruyette & Woods upgraded Standard Chartered from a “hold” rating to a “moderate buy” rating in a report on Monday, September 14th. UBS Group cut Standard Chartered from a “buy” rating to a “hold” rating in a report on Thursday, July 23rd. Morgan Stanley restated an “overweight” rating on shares of Standard Chartered in a report on Wednesday, July 8th. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a research report on Wednesday, September 23rd. Finally, Barclays upgraded shares of Standard Chartered from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, October 21st.

Institutional Investors Weigh In On Standard Chartered

An institutional investor recently raised its position in Standard Chartered stock. Madison Asset Management LLC increased its holdings in shares of Standard Chartered PLC (OTCMKTS:SCBFF) by 13.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,447 shares of the company’s stock after buying 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 Stock Performance

Standard Chartered stock opened at $27.14 on Friday. The company’s 50 day simple moving average is $28.95 and its 200-day simple moving average is $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 has a 1 year low of $19.53 and a 1 year high of $31.98.

Standard Chartered (OTCMKTS:SCBFF) last posted its earnings results on Wednesday, October 28th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. The firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.63 billion. Standard Chartered had a net margin of 14.76% and a return on equity of 11.35%. Equities analysts expect that Standard Chartered will post 2.40 earnings per share for the current year.

Standard Chartered Company Profile

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.