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

Standard Chartered PLC (OTCMKTS:SCBFF) shares gapped up before the market opened on Monday . The stock had previously closed at $28.6375, but opened at $30.6125. Standard Chartered shares last traded at $30.6125, with a volume of 120 shares traded.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SCBFF. Keefe, Bruyette & Woods upgraded Standard Chartered from a “moderate sell” rating to a “hold” rating in a report on Wednesday, May 6th. UBS Group cut Standard Chartered from a “buy” rating to a “hold” rating in a report on Thursday, July 23rd. Citigroup reissued a “neutral” rating on shares of Standard Chartered in a research report on Thursday, July 16th. Morgan Stanley reissued an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded Standard Chartered from a “hold” rating to a “buy” rating in a research report on Tuesday, June 23rd. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Standard Chartered Stock Performance

The company has a market capitalization of $67.40 billion, a PE ratio of 14.10 and a beta of 0.70. The stock’s 50-day simple moving average is $28.14 and its 200 day simple moving average is $25.31. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.82 and a current ratio of 0.82.

Standard Chartered (OTCMKTS:SCBFF) last posted its earnings results on Wednesday, July 29th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.66 by $0.09. The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.59 billion. Standard Chartered had a return on equity of 10.97% and a net margin of 13.79%. As a group, research analysts expect that Standard Chartered PLC will post 2.44 earnings per share for the current fiscal year.

Institutional Trading of Standard Chartered

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

About Standard Chartered

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.