Standard Chartered (OTCMKTS:SCBFF) Stock Price Down 7.6% – Time to Sell?

Standard Chartered PLC (OTCMKTS:SCBFF) shares were down 7.6% on Friday. The company traded as low as $25.4050 and last traded at $25.4050. Approximately 165 shares traded hands during trading, a decline of 98% from the average session volume of 10,052 shares. The stock had previously closed at $27.50.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Keefe, Bruyette & Woods raised shares of Standard Chartered from a “hold” rating to a “moderate buy” rating in a research note on Monday, September 14th. UBS Group lowered shares of Standard Chartered from a “buy” rating to a “hold” rating in a report on Thursday, July 23rd. Citigroup reiterated a “neutral” rating on shares of Standard Chartered in a research report on Wednesday, September 23rd. Morgan Stanley reissued an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, July 8th. Finally, Barclays raised Standard Chartered from an “equal weight” rating to an “overweight” rating in a research note on Wednesday. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Standard Chartered Stock Down 3.2%

The company’s fifty day simple moving average is $29.23 and its two-hundred day simple moving average is $27.33. The company has a market capitalization of $57.76 billion, a price-to-earnings ratio of 12.09 and a beta of 0.66.

Standard Chartered (OTCMKTS:SCBFF) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. Standard Chartered had a net margin of 13.79% and a return on equity of 10.84%. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.59 billion. Equities research analysts expect that Standard Chartered PLC will post 2.40 earnings per share for the current year.

Institutional Trading of Standard Chartered

An institutional investor recently raised its stake in Standard Chartered stock. Madison Asset Management LLC increased its holdings in shares of Standard Chartered PLC (OTCMKTS:SCBFF) by 13.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 42,447 shares of the company’s stock after buying an additional 5,154 shares during the quarter. Madison Asset Management LLC’s holdings in Standard Chartered were worth $2,313,000 as of its most recent SEC filing.

About Standard Chartered

Standard Chartered PLC is an international banking group headquartered in London, United Kingdom. The company provides banking and financial services to individuals, businesses, financial institutions and governments, with a particular focus on markets across Asia, Africa and the Middle East.

Its principal businesses include corporate and institutional banking, commercial banking, wealth management, private banking and consumer banking. Products and services include transaction banking, trade finance, lending, cash management, investment banking, foreign exchange, capital markets, investment services, mortgages, personal loans and deposit accounts.

Standard Chartered 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 1863.