Standard Chartered (OTCMKTS:SCBFF) Shares Gap Up – Still a Buy?

Standard Chartered PLC (OTCMKTS:SCBFF) gapped up prior to trading on Tuesday . The stock had previously closed at $19.96, but opened at $21.5250. Standard Chartered shares last traded at $21.0375, with a volume of 595 shares trading hands.

Analyst Upgrades and Downgrades

SCBFF has been the topic of several analyst reports. Morgan Stanley reiterated an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, January 14th. The Goldman Sachs Group raised shares of Standard Chartered from a “hold” rating to a “buy” rating in a report on Thursday, December 11th. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a research note on Wednesday, February 25th. Finally, Zacks Research cut Standard Chartered from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Standard Chartered Stock Performance

The company has a market capitalization of $48.45 billion, a PE ratio of 11.34 and a beta of 0.51. The business has a fifty day moving average price of $24.06 and a 200 day moving average price of $21.99.

Standard Chartered (OTCMKTS:SCBFF) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.02). The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.82 billion. Standard Chartered had a return on equity of 10.77% and a net margin of 12.86%. Research analysts forecast that Standard Chartered PLC will post 1.66 earnings per share for the current fiscal year.

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.