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

Shares of Standard Chartered PLC (OTCMKTS:SCBFF) gapped up prior to trading on Tuesday . The stock had previously closed at $20.17, but opened at $20.90. Standard Chartered shares last traded at $20.90, with a volume of 224 shares traded.

Analysts Set New Price Targets

Several analysts have commented on SCBFF shares. Morgan Stanley reaffirmed an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, January 14th. The Goldman Sachs Group raised shares of Standard Chartered from a “hold” rating to a “buy” rating in a research report on Thursday, December 11th. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a research report on Wednesday, February 25th. Finally, Zacks Research lowered shares of Standard Chartered from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Standard Chartered Price Performance

The firm’s 50 day moving average is $22.95 and its 200 day moving average is $22.15. The company has a market cap of $46.74 billion, a PE ratio of 10.94 and a beta of 0.58.

Standard Chartered (OTCMKTS:SCBFF) last announced its 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 net margin of 12.86% and a return on equity of 10.77%. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.82 billion. As a group, analysts anticipate that Standard Chartered PLC will post 1.66 EPS 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.