Standard Chartered (OTCMKTS:SCBFF) Trading Down 5.5% – Should You Sell?

Shares of Standard Chartered PLC (OTCMKTS:SCBFF) were down 5.5% during trading on Friday . The company traded as low as $20.4375 and last traded at $20.4375. Approximately 611 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 5,311 shares. The stock had previously closed at $21.6325.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SCBFF shares. Citigroup reiterated a “neutral” rating on shares of Standard Chartered in a report on Wednesday, February 25th. Zacks Research cut Standard Chartered from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Morgan Stanley reiterated an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, January 14th. Finally, The Goldman Sachs Group upgraded Standard Chartered from a “hold” rating to a “buy” rating in a report on Thursday, December 11th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Standard Chartered Stock Performance

The firm has a fifty day simple moving average of $24.30 and a 200-day simple moving average of $21.95. The company has a market capitalization of $47.34 billion, a PE ratio of 11.08 and a beta of 0.51.

Standard Chartered (OTCMKTS:SCBFF) last released its earnings results on Tuesday, February 24th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.02). Standard Chartered had a net margin of 12.86% and a return on equity of 10.77%. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.82 billion. As a group, research analysts anticipate that Standard Chartered PLC will post 1.66 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.