Standard Chartered (OTCMKTS:SCBFF) Sees Strong Trading Volume – Time to Buy?

Standard Chartered PLC (OTCMKTS:SCBFF) shares saw unusually-strong trading volume on Tuesday . Approximately 17,301 shares were traded during mid-day trading, an increase of 70% from the previous session’s volume of 10,160 shares.The stock last traded at $26.55 and had previously closed at $26.5075.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SCBFF shares. BNP Paribas Exane upgraded shares of Standard Chartered to an “outperform” rating in a report on Tuesday, April 14th. 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. Finally, Citigroup reissued a “neutral” rating on shares of Standard Chartered in a research note on Friday, May 1st. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

Standard Chartered Stock Performance

The stock’s 50 day moving average price is $24.94 and its 200 day moving average price is $23.92. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.50. The firm has a market cap of $61.95 billion, a PE ratio of 13.29 and a beta of 0.68.

Standard Chartered (OTCMKTS:SCBFF) last issued its earnings results on Thursday, April 30th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18. Standard Chartered had a net margin of 13.63% and a return on equity of 11.07%. The business had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $5.58 billion. As a group, equities analysts forecast that Standard Chartered PLC will post 2.26 earnings per share for the current fiscal year.

Standard Chartered Company Profile

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.