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

Standard Chartered PLC (OTCMKTS:SCBFF)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $23.65, but opened at $24.80. Standard Chartered shares last traded at $24.70, with a volume of 446 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. 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 report on Monday, November 3rd. Zacks Research upgraded shares of Standard Chartered from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 12th. Finally, Morgan Stanley raised Standard Chartered from an “equal weight” rating to an “overweight” rating in a research report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Standard Chartered Stock Up 2.4%

The stock has a market cap of $55.05 billion, a P/E ratio of 12.88 and a beta of 0.54. The firm’s 50-day moving average is $21.55 and its two-hundred day moving average is $19.36.

Standard Chartered (OTCMKTS:SCBFF) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.06. Standard Chartered had a net margin of 12.84% and a return on equity of 10.88%. The business had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $4.97 billion. Analysts anticipate that Standard Chartered PLC will post 1.66 earnings per share for the current fiscal 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.