Standard Chartered (OTCMKTS:SCBFF) Stock Price Down 6.7% – What’s Next?

Standard Chartered PLC (OTCMKTS:SCBFF) shares fell 6.7% during trading on Wednesday . The stock traded as low as $24.50 and last traded at $24.50. 796 shares traded hands during trading, a decline of 92% from the average session volume of 10,514 shares. The stock had previously closed at $26.2550.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. 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. Morgan Stanley reissued an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, May 13th. BNP Paribas Exane raised shares of Standard Chartered to an “outperform” rating in a research note on Tuesday, April 14th. Finally, Citigroup reissued a “neutral” rating on shares of Standard Chartered in a research note on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Standard Chartered Price Performance

The business’s 50 day moving average is $24.30 and its 200-day moving average is $23.72. The firm has a market capitalization of $54.58 billion, a P/E ratio of 11.71 and a beta of 0.68. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.50.

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