Standard Chartered (OTCMKTS:SCBFF) Stock Dropped to Hold by Barclays

Standard Chartered (OTCMKTS:SCBFF) was downgraded by stock analysts at Barclays from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday, Zacks reports.

Several other equities research analysts have also recently issued reports on the stock. UBS Group cut shares of Standard Chartered from a “buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Morgan Stanley reaffirmed an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, July 8th. 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. Finally, Citigroup reiterated a “neutral” rating on shares of Standard Chartered in a report on Wednesday, September 23rd. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Standard Chartered Price Performance

OTCMKTS:SCBFF opened at $27.14 on Thursday. The firm 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. The business has a 50 day simple moving average of $28.95 and a 200-day simple moving average of $26.20.

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

Institutional Trading of Standard Chartered

An institutional investor recently raised its position in Standard Chartered stock. Madison Asset Management LLC grew its position in shares of Standard Chartered PLC (OTCMKTS:SCBFF) by 13.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

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.