Standard Chartered (OTCMKTS:SCBFF) Shares Up 6.5% – Time to Buy?

Standard Chartered PLC (OTCMKTS:SCBFF)’s stock price shot up 6.5% during trading on Monday . The company traded as high as $21.4750 and last traded at $21.4750. 1,551 shares were traded during trading, a decline of 71% from the average session volume of 5,431 shares. The stock had previously closed at $20.17.

Analysts Set New Price Targets

A number of research firms have commented on SCBFF. Citigroup reissued a “neutral” rating on shares of Standard Chartered in a report on Wednesday, February 25th. Zacks Research cut Standard Chartered from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Morgan Stanley reissued an “overweight” rating on shares of Standard Chartered in a report on Wednesday, January 14th. Finally, The Goldman Sachs Group raised Standard Chartered from a “hold” rating to a “buy” rating in a report 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Standard Chartered Stock Up 13.2%

The company has a fifty day moving average price of $22.85 and a 200-day moving average price of $22.15. The stock has a market capitalization of $52.82 billion, a P/E ratio of 12.36 and a beta of 0.58.

Standard Chartered (OTCMKTS:SCBFF) last issued its earnings results on Tuesday, February 24th. The company reported $0.36 earnings per share (EPS) 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 firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.82 billion. As a group, research analysts expect that Standard Chartered PLC will post 1.66 earnings per share for the current fiscal 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.