Standard Chartered (OTCMKTS:SCBFF) Shares Break Above 200-Day Moving Average – Here’s What Happened

Standard Chartered PLC (OTCMKTS:SCBFF) shares passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $26.13 and traded as high as $26.72. Standard Chartered shares last traded at $26.3875, with a volume of 1,576 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SCBFF shares. Barclays upgraded Standard Chartered from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, October 21st. UBS Group lowered Standard Chartered from a “buy” rating to a “hold” rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods upgraded Standard Chartered from a “hold” rating to a “moderate buy” rating in a research note on Monday, September 14th. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a report on Wednesday, September 23rd. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, July 8th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Standard Chartered currently has a consensus rating of “Moderate Buy”.

Standard Chartered Price Performance

The stock has a market capitalization of $64.28 billion, a P/E ratio of 13.45 and a beta of 0.66. The stock has a fifty day moving average price of $29.00 and a 200 day moving average price of $26.17.

Standard Chartered (OTCMKTS:SCBFF) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Standard Chartered had a return on equity of 10.84% and a net margin of 13.79%. Research analysts anticipate that Standard Chartered PLC will post 2.40 earnings per share for the current year.

Hedge Funds Weigh In On Standard Chartered

An institutional investor recently raised its position in Standard Chartered stock. Madison Asset Management LLC increased its position in shares of Standard Chartered PLC (OTCMKTS:SCBFF) by 13.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 42,447 shares of the company’s stock after acquiring an additional 5,154 shares during the period. Madison Asset Management LLC’s holdings in Standard Chartered were worth $2,313,000 as of its most recent filing with the Securities and Exchange Commission.

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.