Standard Chartered (OTCMKTS:SCBFF) Stock Jumps 4.6% – Should You Buy?

Standard Chartered PLC (OTCMKTS:SCBFF) rose 4.6% during trading on Monday. The stock traded as high as $31.00 and last traded at $31.00. Approximately 1,792 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 10,848 shares. The stock had previously closed at $29.6325.

Analysts Set New Price Targets

SCBFF has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded Standard Chartered from a “hold” rating to a “buy” rating in a report on Tuesday, June 23rd. UBS Group cut shares of Standard Chartered from a “buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods raised shares of Standard Chartered from a “hold” rating to a “moderate buy” rating in a research note on Monday, September 14th. Citigroup restated a “neutral” rating on shares of Standard Chartered in a research report on Wednesday. Finally, Morgan Stanley restated an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, July 8th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Standard Chartered presently has an average rating of “Moderate Buy”.

Standard Chartered Stock Performance

The stock has a market cap of $70.48 billion, a price-to-earnings ratio of 14.75 and a beta of 0.69. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.84 and a quick ratio of 0.82. The firm has a fifty day moving average of $29.47 and a 200 day moving average of $26.33.

Standard Chartered (OTCMKTS:SCBFF) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.59 billion. Standard Chartered had a net margin of 13.79% and a return on equity of 10.84%. As a group, sell-side analysts forecast that Standard Chartered PLC will post 2.44 EPS for the current year.

Institutional Investors Weigh In On Standard Chartered

A hedge fund recently raised its stake in Standard Chartered stock. Madison Asset Management LLC boosted its position in shares of Standard Chartered PLC (OTCMKTS:SCBFF) by 13.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,447 shares of the company’s stock after acquiring 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 quarter.

About Standard Chartered

Standard Chartered PLC is an international banking group headquartered in London. The company provides financial services to individuals, businesses, financial institutions and governments through operations spanning Asia, Africa, the Middle East, the United Kingdom and the Americas.

Its principal activities include corporate, commercial and institutional banking, retail banking, private banking and wealth management. Standard Chartered offers lending, trade finance, transaction banking, foreign exchange, investment banking, capital markets, cash management and investment products, along with personal banking services such as deposits, mortgages, credit cards and other forms of consumer finance in selected markets.

Standard Chartered traces its history to the formation of Chartered Bank of India, Australia and China in 1853 and the Standard Bank of British South Africa in 1862.