Standard Chartered (OTCMKTS:SCBFF) Sees Large Volume Increase – Still a Buy?

Standard Chartered PLC (OTCMKTS:SCBFF) saw unusually-high trading volume on Monday . Approximately 8,579 shares changed hands during mid-day trading, an increase of 271% from the previous session’s volume of 2,314 shares.The stock last traded at $24.9050 and had previously closed at $24.3550.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group raised shares of Standard Chartered from a “hold” rating to a “buy” rating in a research note on Thursday, December 11th. Zacks Research raised shares of Standard Chartered from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 12th. Citigroup restated a “neutral” rating on shares of Standard Chartered in a research note on Monday, November 3rd. Finally, Morgan Stanley raised shares of Standard Chartered from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy”.

Standard Chartered Stock Performance

The firm’s fifty day moving average price is $22.04 and its 200 day moving average price is $19.61. The firm has a market cap of $56.62 billion, a P/E ratio of 13.25 and a beta of 0.53.

Standard Chartered (OTCMKTS:SCBFF) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.06. The company had revenue of $5.15 billion for the quarter, compared to analyst estimates of $4.97 billion. Standard Chartered had a net margin of 12.84% and a return on equity of 10.88%. As a group, analysts expect that Standard Chartered PLC will post 1.66 earnings per share for the current fiscal year.

Standard Chartered Company Profile

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.