Standard Chartered PLC (SCBFF) – What Are Brokerages Thinking About This Stock?

Shares of Standard Chartered PLC (OTCMKTS:SCBFF) have been given an average recommendation of “Moderate Buy” by the eight analysts that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company.

A number of brokerages have recently issued reports on SCBFF. Morgan Stanley reaffirmed an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, July 8th. Keefe, Bruyette & Woods upgraded Standard Chartered from a “hold” rating to a “moderate buy” rating in a report on Monday, September 14th. UBS Group lowered Standard Chartered from a “buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft raised Standard Chartered from a “hold” rating to a “buy” rating in a research note on Tuesday, June 23rd. Finally, Citigroup reissued a “neutral” rating on shares of Standard Chartered in a research note on Wednesday, September 23rd.

Standard Chartered Stock Performance

Shares of Standard Chartered stock opened at $27.54 on Tuesday. Standard Chartered has a 52-week low of $18.03 and a 52-week high of $31.98. The stock has a market capitalization of $62.62 billion, a price-to-earnings ratio of 13.10 and a beta of 0.66. The company has a fifty day moving average of $29.65 and a 200-day moving average of $26.84.

Standard Chartered (OTCMKTS:SCBFF) last issued its earnings results on Wednesday, July 29th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. The company had revenue of $5.70 billion for 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%. On average, equities research analysts forecast that Standard Chartered will post 2.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Standard Chartered

An institutional investor recently raised its stake in Standard Chartered stock. Madison Asset Management LLC raised its position in Standard Chartered PLC (OTCMKTS:SCBFF) by 13.8% during the second quarter, according to its most recent disclosure 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 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, United Kingdom. The company provides financial services to individuals, businesses, financial institutions and governments through operations spanning Asia, the Middle East and Africa, as well as selected markets in Europe and the Americas.

Its principal businesses include corporate, commercial and institutional banking; transaction banking; financial markets; wealth management; and retail banking. Standard Chartered offers services such as lending, trade finance, cash management, foreign exchange, investment banking, asset management, mortgages, personal banking and investment products.

The group 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 1862.