Standard Chartered (OTCMKTS:SCBFF) Reaches New 1-Year High – Still a Buy?

Standard Chartered PLC (OTCMKTS:SCBFF) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $28.0725 and last traded at $28.0725, with a volume of 558 shares traded. The stock had previously closed at $26.6150.

Analysts Set New Price Targets

A number of research firms recently issued reports on SCBFF. Morgan Stanley restated an “overweight” rating on shares of Standard Chartered in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft raised shares of Standard Chartered from a “hold” rating to a “buy” rating in a research note on Tuesday, June 23rd. BNP Paribas Exane raised shares of Standard Chartered to an “outperform” rating in a research note on Tuesday, April 14th. Keefe, Bruyette & Woods raised shares of Standard Chartered from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a research report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Standard Chartered Trading Up 4.4%

The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.50. The stock’s 50 day moving average is $25.67 and its two-hundred day moving average is $24.25. The company has a market capitalization of $63.79 billion, a PE ratio of 13.69 and a beta of 0.68.

Standard Chartered (OTCMKTS:SCBFF) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.54 by $0.18. Standard Chartered had a net margin of 13.63% and a return on equity of 11.07%. The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $5.58 billion. As a group, sell-side analysts predict that Standard Chartered PLC will post 2.26 EPS for the current fiscal year.

About Standard Chartered

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.