Standard Chartered (OTCMKTS:SCBFF) Shares Gap Up – Here’s What Happened

Standard Chartered PLC (OTCMKTS:SCBFF) gapped up before the market opened on Tuesday . The stock had previously closed at $26.7250, but opened at $27.6775. Standard Chartered shares last traded at $27.6775, with a volume of 433 shares.

Wall Street Analyst Weigh In

SCBFF has been the topic of several analyst reports. Citigroup restated a “neutral” rating on shares of Standard Chartered in a research report on Friday, May 1st. Deutsche Bank Aktiengesellschaft upgraded Standard Chartered from a “hold” rating to a “buy” rating in a research report on Tuesday. Keefe, Bruyette & Woods raised Standard Chartered from a “moderate sell” rating to a “hold” rating in a report on Wednesday, May 6th. Morgan Stanley restated an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, May 13th. Finally, BNP Paribas Exane raised shares of Standard Chartered to an “outperform” rating in a report on Tuesday, April 14th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Standard Chartered Price Performance

The business has a 50-day simple moving average of $25.25 and a two-hundred day simple moving average of $24.02. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $61.36 billion, a price-to-earnings ratio of 13.17 and a beta of 0.68.

Standard Chartered (OTCMKTS:SCBFF) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.18. The company had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.58 billion. Standard Chartered had a return on equity of 11.07% and a net margin of 13.63%. As a group, research analysts predict that Standard Chartered PLC will post 2.26 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.