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

Standard Chartered PLC (OTCMKTS:SCBFF) shares gapped up prior to trading on Tuesday . The stock had previously closed at $26.7250, but opened at $27.6775. Standard Chartered shares last traded at $27.6775, with a volume of 433 shares traded.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Keefe, Bruyette & Woods raised shares of Standard Chartered from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Standard Chartered from a “hold” rating to a “buy” rating in a research report on Tuesday. BNP Paribas Exane raised Standard Chartered to an “outperform” rating in a research note on Tuesday, April 14th. Citigroup restated a “neutral” rating on shares of Standard Chartered in a report on Friday, May 1st. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Standard Chartered Stock Performance

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 market capitalization of $61.36 billion, a PE ratio of 13.17 and a beta of 0.68. The firm’s 50-day simple moving average is $25.25 and its two-hundred day simple moving average is $24.02.

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