Standard Chartered (OTCMKTS:SCBFF) Shares Gap Up – Should You Buy?

Shares of Standard Chartered PLC (OTCMKTS:SCBFF) gapped up prior to trading on Tuesday . The stock had previously closed at $29.99, but opened at $30.7750. Standard Chartered shares last traded at $30.1250, with a volume of 946 shares traded.

Analyst Ratings Changes

A number of analysts recently commented on SCBFF shares. Keefe, Bruyette & Woods upgraded Standard Chartered from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft raised Standard Chartered from a “hold” rating to a “buy” rating in a research report on Tuesday, June 23rd. UBS Group lowered shares of Standard Chartered from a “buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Citigroup restated a “neutral” rating on shares of Standard Chartered in a research report on Thursday, July 16th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Standard Chartered in a report on Wednesday, July 8th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Standard Chartered Trading Down 0.8%

The stock’s 50 day moving average price is $27.81 and its 200-day moving average price is $25.21. 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 $67.75 billion, a PE ratio of 14.18 and a beta of 0.70.

Standard Chartered (OTCMKTS:SCBFF) last released its earnings results on Wednesday, July 29th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.59 billion. Standard Chartered had a net margin of 13.79% and a return on equity of 10.97%. On average, sell-side analysts expect that Standard Chartered PLC will post 2.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Standard Chartered

A hedge fund recently raised its position in Standard Chartered stock. Madison Asset Management LLC increased its holdings in shares of Standard Chartered PLC (OTCMKTS:SCBFF) by 13.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,447 shares of the company’s stock after purchasing an additional 5,154 shares during the quarter. Madison Asset Management LLC’s holdings in Standard Chartered were worth $2,313,000 at the end of the most recent reporting period.

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.