Standard Chartered (OTCMKTS:SCBFF) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Standard Chartered (OTCMKTS:SCBFF) from a hold rating to a sell rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “Standard Chartered PLC operates as a banking group principally in Asia, Africa, and the Middle East. The bank provides consumer and wholesale banking products and services to individuals, small and medium-sized enterprises (SMEs), corporate, and institutional customers. Services offered by Standard Chartered include: loans and savings accounts, demand drafts, foreign exchange services, credit cards, insurance and investment advisory services. It also provides private and priority banking; international banking; cash management; trade finance and working capital as well as Internet banking services. Standard Chartered PLC is headquartered in London, the United Kingdom. “

SCBFF has been the topic of a number of other research reports. Societe Generale raised shares of Standard Chartered from a hold rating to a buy rating in a report on Tuesday, July 2nd. Investec reaffirmed a sell rating on shares of Standard Chartered in a report on Thursday, June 27th. ValuEngine raised shares of Standard Chartered from a sell rating to a hold rating in a report on Wednesday, May 1st. Finally, HSBC reaffirmed a reduce rating on shares of Standard Chartered in a report on Wednesday, May 1st. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of Hold.

Shares of OTCMKTS:SCBFF opened at $7.80 on Wednesday. The business has a fifty day moving average of $8.74. Standard Chartered has a one year low of $6.64 and a one year high of $9.55.

About Standard Chartered

Standard Chartered PLC., together with its subsidiaries, provides various banking products and services primarily in Asia, Africa, and the Middle East. The company operates through Corporate & Institutional Banking, Retail banking, Commercial Banking, and Private Banking segments. It offers retail products, such as deposits, savings, mortgages, credit cards, and personal loans; wealth management that include investments, portfolio management, insurance and advices, and planning services; and transaction banking services, such as cash management, payments and transactions, securities services, and trade financing products.

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