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

Standard Chartered PLC (OTCMKTS:SCBFF)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $24.7425, but opened at $26.0975. Standard Chartered shares last traded at $26.0975, with a volume of 240 shares traded.

Analysts Set New Price Targets

Several research firms recently issued reports on SCBFF. BNP Paribas Exane upgraded Standard Chartered to an “outperform” rating in a research report on Tuesday, April 14th. Keefe, Bruyette & Woods upgraded Standard Chartered from a “moderate sell” rating to a “hold” rating in a report on Wednesday, May 6th. Citigroup reiterated a “neutral” rating on shares of Standard Chartered in a research note on Friday, May 1st. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Standard Chartered presently has a consensus rating of “Moderate Buy”.

Standard Chartered Trading Down 1.1%

The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.50. The stock has a 50-day simple moving average of $22.87 and a two-hundred day simple moving average of $23.20. The firm has a market capitalization of $59.11 billion, a P/E ratio of 12.68 and a beta of 0.68.

Standard Chartered (OTCMKTS:SCBFF) last issued its earnings results on Thursday, April 30th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18. The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $5.58 billion. Standard Chartered had a return on equity of 11.07% and a net margin of 13.63%. On average, equities research analysts anticipate that Standard Chartered PLC will post 2.26 earnings per share for the current year.

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.