Standard Chartered (OTCMKTS:SCBFF) Shares Down 6% – Here’s Why

Standard Chartered PLC (OTCMKTS:SCBFF)’s stock price was down 6% during mid-day trading on Tuesday . The company traded as low as $24.2625 and last traded at $24.2625. Approximately 571 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 5,745 shares. The stock had previously closed at $25.8075.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Citigroup reiterated a “neutral” rating on shares of Standard Chartered in a research note on Friday, January 9th. Morgan Stanley reaffirmed an “overweight” rating on shares of Standard Chartered in a report on Wednesday, January 14th. The Goldman Sachs Group upgraded Standard Chartered from a “hold” rating to a “buy” rating in a report on Thursday, December 11th. Finally, Zacks Research lowered Standard Chartered from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Standard Chartered presently has a consensus rating of “Moderate Buy”.

Standard Chartered Price Performance

The stock’s 50-day moving average price is $24.24 and its 200-day moving average price is $21.10. The company has a market cap of $55.76 billion, a P/E ratio of 13.05 and a beta of 0.52.

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.