Standard Chartered (OTCMKTS:SCBFY) Reaches New 52-Week High – Time to Buy?

Standard Chartered PLC (OTCMKTS:SCBFY) shares reached a new 52-week high on Thursday . The company traded as high as $60.9625 and last traded at $60.7740, with a volume of 2790 shares traded. The stock had previously closed at $60.27.

Analysts Set New Price Targets

Separately, Zacks Research downgraded Standard Chartered from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold”.

Standard Chartered Stock Performance

The stock’s fifty day simple moving average is $55.98 and its 200-day simple moving average is $51.11.

Standard Chartered Company Profile

Standard Chartered PLC is a leading international banking group headquartered in London, with a heritage dating back to the 19th century. The bank was formed in 1969 through the merger of Standard Bank of British South Africa and Chartered Bank of India, Australia and China, combining deep roots in emerging markets with a global footprint. Over more than 150 years of operations, Standard Chartered has built a reputation for expertise in trade finance, corporate banking and cross-border transactions.

The company offers a broad range of financial products and services, including corporate and institutional banking, retail banking, wealth management, treasury and capital markets solutions.