Standard Chartered (OTCMKTS:SCBFF) Stock Price Down 7.6% – Should You Sell?

Standard Chartered PLC (OTCMKTS:SCBFF) traded down 7.6% during mid-day trading on Friday. The company traded as low as $25.4050 and last traded at $25.4050. Approximately 165 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 10,052 shares. The stock had previously closed at $27.50.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SCBFF shares. UBS Group cut Standard Chartered from a “buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Barclays raised Standard Chartered from an “equal weight” rating to an “overweight” rating in a report on Wednesday. Morgan Stanley restated an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, July 8th. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a research note on Wednesday, September 23rd. Finally, Keefe, Bruyette & Woods upgraded Standard Chartered from a “hold” rating to a “moderate buy” rating in a research note on Monday, September 14th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Standard Chartered Trading Down 3.2%

The company has a 50 day moving average price of $29.23 and a 200 day moving average price of $27.33. The company has a market capitalization of $57.76 billion, a price-to-earnings ratio of 12.09 and a beta of 0.66.

Standard Chartered (OTCMKTS:SCBFF) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.09. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.59 billion. Standard Chartered had a return on equity of 10.84% and a net margin of 13.79%. Equities analysts predict that Standard Chartered PLC will post 2.40 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Standard Chartered stock. Madison Asset Management LLC grew its holdings in Standard Chartered PLC (OTCMKTS:SCBFF) by 13.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,447 shares of the company’s stock after purchasing an additional 5,154 shares during the quarter. Madison Asset Management LLC’s holdings in Standard Chartered were worth $2,313,000 at the end of the most recent reporting period.

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.