Standard Chartered (OTCMKTS:SCBFF) Shares Gap Down – Should You Sell?

Standard Chartered PLC (OTCMKTS:SCBFF)’s share price gapped down prior to trading on Monday . The stock had previously closed at $21.6325, but opened at $20.32. Standard Chartered shares last traded at $20.4775, with a volume of 777 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SCBFF. Citigroup restated a “neutral” rating on shares of Standard Chartered in a report on Wednesday, February 25th. The Goldman Sachs Group upgraded shares of Standard Chartered from a “hold” rating to a “buy” rating in a report on Thursday, December 11th. Morgan Stanley reiterated an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, January 14th. Finally, Zacks Research lowered shares of Standard Chartered from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Standard Chartered Stock Performance

The company has a fifty day simple moving average of $24.30 and a 200 day simple moving average of $21.97. The stock has a market capitalization of $46.53 billion, a price-to-earnings ratio of 10.89 and a beta of 0.51.

Standard Chartered (OTCMKTS:SCBFF) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.02). Standard Chartered had a net margin of 12.86% and a return on equity of 10.77%. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.82 billion. As a group, equities analysts predict 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.