Standard Chartered PLC (OTCMKTS:SCBFF) Short Interest Up 143.6% in June

Standard Chartered PLC (OTCMKTS:SCBFF) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totaling 896,609 shares, an increase of 143.6% from the May 31st total of 368,136 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 41,915 shares, the days-to-cover ratio is currently 21.4 days.

Analysts Set New Price Targets

SCBFF has been the topic of several research reports. Keefe, Bruyette & Woods raised shares of Standard Chartered from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a research note on Friday, May 1st. Morgan Stanley reaffirmed an “overweight” rating on shares of Standard Chartered in a report on Wednesday, May 13th. BNP Paribas Exane upgraded shares of Standard Chartered to an “outperform” rating in a research report on Tuesday, April 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded Standard Chartered from a “hold” rating to a “buy” rating in a report on Tuesday, June 23rd. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Standard Chartered Trading Down 3.1%

Shares of SCBFF stock traded down $0.86 during mid-day trading on Tuesday, reaching $26.61. The stock had a trading volume of 1,656 shares, compared to its average volume of 9,714. The firm has a market capitalization of $60.51 billion, a PE ratio of 12.98 and a beta of 0.68. The stock’s 50-day moving average price is $25.57 and its two-hundred day moving average price is $24.19. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.50. Standard Chartered has a 52-week low of $15.91 and a 52-week high of $27.77.

Standard Chartered (OTCMKTS:SCBFF) last posted its earnings results on Thursday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.18. Standard Chartered had a return on equity of 11.07% and a net margin of 13.63%.The company had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.58 billion. Equities analysts expect that Standard Chartered will post 2.26 earnings per share 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.