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

Standard Chartered PLC (OTCMKTS:SCBFF)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $27.45, but opened at $29.0275. Standard Chartered shares last traded at $29.0275, with a volume of 193 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have issued reports on SCBFF. UBS Group lowered shares of Standard Chartered from a “buy” rating to a “neutral” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft upgraded shares of Standard Chartered from a “hold” rating to a “buy” rating in a research note on Tuesday, June 23rd. Keefe, Bruyette & Woods raised Standard Chartered from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, May 6th. BNP Paribas Exane upgraded Standard Chartered to an “outperform” rating in a research note on Tuesday, April 14th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a report on Thursday, July 16th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Standard Chartered Price Performance

The stock has a market cap of $63.69 billion, a price-to-earnings ratio of 13.66 and a beta of 0.69. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.82 and a quick ratio of 0.82. The stock’s 50 day simple moving average is $26.67 and its two-hundred day simple moving average is $24.67.

Standard Chartered (OTCMKTS:SCBFF) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.18. Standard Chartered had a net margin of 13.63% and a return on equity of 11.07%. The company had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.58 billion. On average, analysts forecast 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.