Standard Chartered (OTCMKTS:SCBFF) Issues Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Standard Chartered (OTCMKTS:SCBFF) announced its quarterly earnings data on Wednesday. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10, Zacks reports.

Standard Chartered Price Performance

OTCMKTS:SCBFF traded up $0.99 during trading hours on Wednesday, hitting $27.58. 252 shares of the company traded hands, compared to its average volume of 9,870. Standard Chartered has a twelve month low of $19.53 and a twelve month high of $31.98. The firm has a 50-day moving average of $29.02 and a 200 day moving average of $26.15.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SCBFF shares. UBS Group downgraded shares of Standard Chartered from a “buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Citigroup reiterated a “neutral” rating on shares of Standard Chartered in a report on Wednesday, September 23rd. Barclays raised shares of Standard Chartered from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, October 21st. Morgan Stanley reissued an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, July 8th. Finally, Keefe, Bruyette & Woods raised shares of Standard Chartered from a “hold” rating to a “moderate buy” rating in a research report on Monday, September 14th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Standard Chartered Company Profile

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.