Standard Chartered PLC (OTCMKTS:SCBFF) Sees Significant Decrease in Short Interest

Standard Chartered PLC (OTCMKTS:SCBFF) was the target of a large decline in short interest in April. As of April 30th, there was short interest totaling 446,459 shares, a decline of 34.9% from the April 15th total of 685,791 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 9,532 shares, the days-to-cover ratio is presently 46.8 days.

Standard Chartered Price Performance

Shares of SCBFF stock opened at $24.99 on Tuesday. The stock has a 50 day moving average price of $22.72 and a 200 day moving average price of $23.12. Standard Chartered has a 52-week low of $14.85 and a 52-week high of $26.45. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $56.81 billion, a P/E ratio of 12.19 and a beta of 0.68.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods upgraded Standard Chartered from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, May 6th. BNP Paribas Exane upgraded Standard Chartered to an “outperform” rating in a report on Tuesday, April 14th. Citigroup restated a “neutral” rating on shares of Standard Chartered in a research report on Friday, May 1st. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Standard Chartered has an average rating of “Moderate Buy”.

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.