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

Standard Chartered PLC (OTCMKTS:SCBFF) gapped down before the market opened 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 traded.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group upgraded Standard Chartered from a “hold” rating to a “buy” rating in a research report on Thursday, December 11th. Zacks Research lowered Standard Chartered from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Morgan Stanley reaffirmed an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, January 14th. Finally, Citigroup reiterated a “neutral” rating on shares of Standard Chartered in a research report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Standard Chartered Stock Up 8.2%

The company has a fifty day moving average price of $24.13 and a 200 day moving average price of $22.00. The stock has a market cap of $49.11 billion, a PE ratio of 11.49 and a beta of 0.51.

Standard Chartered (OTCMKTS:SCBFF) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.02). Standard Chartered had a return on equity of 10.77% and a net margin of 12.86%.The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.82 billion. As a group, research analysts predict that Standard Chartered PLC will post 1.66 earnings per share for the current 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.