Standard Chartered (OTCMKTS:SCBFF) Trading Down 6% – Here’s What Happened

Shares of Standard Chartered PLC (OTCMKTS:SCBFF) were down 6% during trading on Tuesday . The company traded as low as $24.2625 and last traded at $24.2625. Approximately 571 shares traded hands 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.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Citigroup restated a “neutral” rating on shares of Standard Chartered in a research report on Friday, January 9th. Zacks Research cut Standard Chartered from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. The Goldman Sachs Group upgraded Standard Chartered from a “hold” rating to a “buy” rating in a research note on Thursday, December 11th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Standard Chartered in a report on Wednesday, January 14th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Standard Chartered Price Performance

The company has a market capitalization of $55.76 billion, a price-to-earnings ratio of 13.05 and a beta of 0.52. The firm’s fifty day moving average price is $24.24 and its 200-day moving average price is $21.10.

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.