Standard Chartered (OTCMKTS:SCBFF) Upgraded to Moderate Buy at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Standard Chartered (OTCMKTS:SCBFF) from a hold rating to a moderate buy rating in a research report released on Monday morning,Zacks reports.

SCBFF has been the subject of several other reports. UBS Group lowered shares of Standard Chartered from a “buy” rating to a “hold” rating in a report on Thursday, July 23rd. Morgan Stanley restated an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft raised shares of Standard Chartered from a “hold” rating to a “buy” rating in a report on Tuesday, June 23rd. Finally, Citigroup reiterated a “neutral” rating on shares of Standard Chartered in a research report on Thursday, July 16th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Standard Chartered Stock Performance

Shares of SCBFF stock opened at $30.88 on Monday. Standard Chartered has a 52-week low of $18.03 and a 52-week high of $31.40. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 1.58. The stock has a market cap of $70.21 billion, a PE ratio of 14.69 and a beta of 0.69. The business has a 50-day simple moving average of $29.15 and a 200-day simple moving average of $25.97.

Standard Chartered (OTCMKTS:SCBFF) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.09. Standard Chartered had a return on equity of 10.84% and a net margin of 13.79%.The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.59 billion. On average, equities analysts expect that Standard Chartered will post 2.44 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Standard Chartered stock. Madison Asset Management LLC boosted its stake in Standard Chartered PLC (OTCMKTS:SCBFF) by 13.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 42,447 shares of the company’s stock after acquiring an additional 5,154 shares during the quarter. Madison Asset Management LLC’s holdings in Standard Chartered were worth $2,313,000 as of its most recent filing with the SEC.

Standard Chartered Company Profile

Standard Chartered PLC is an international banking group headquartered in London. The company provides financial services to individuals, businesses, financial institutions and governments through operations spanning Asia, Africa, the Middle East, the United Kingdom and the Americas.

Its principal activities include corporate, commercial and institutional banking, retail banking, private banking and wealth management. Standard Chartered offers lending, trade finance, transaction banking, foreign exchange, investment banking, capital markets, cash management and investment products, along with personal banking services such as deposits, mortgages, credit cards and other forms of consumer finance in selected markets.

Standard Chartered traces its history to the formation of Chartered Bank of India, Australia and China in 1853 and the Standard Bank of British South Africa in 1862.