Standard Chartered (OTCMKTS:SCBFF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, 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. “
Several other equities research analysts have also issued reports on the stock. Investec reiterated a “sell” rating on shares of Standard Chartered in a research report on Thursday, June 27th. Societe Generale raised shares of Standard Chartered from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. HSBC reaffirmed a “reduce” rating on shares of Standard Chartered in a research note on Wednesday, May 1st. Finally, ValuEngine raised shares of Standard Chartered from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold”.
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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