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

Standard Chartered PLC (OTCMKTS:SCBFF) gapped up prior to trading on Friday . The stock had previously closed at $27.04, but opened at $28.3675. Standard Chartered shares last traded at $28.3675, with a volume of 207 shares.

Analysts Set New Price Targets

Several research firms have issued reports on SCBFF. Deutsche Bank Aktiengesellschaft raised shares of Standard Chartered from a “hold” rating to a “buy” rating in a research report on Tuesday, June 23rd. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a research note on Friday, May 1st. Keefe, Bruyette & Woods upgraded Standard Chartered from a “moderate sell” rating to a “hold” rating in a report on Wednesday, May 6th. Morgan Stanley reissued an “overweight” rating on shares of Standard Chartered in a research note on Wednesday. Finally, BNP Paribas Exane upgraded Standard Chartered to an “outperform” rating in a report on Tuesday, April 14th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Standard Chartered Trading Up 4.3%

The company’s fifty day moving average is $26.12 and its 200-day moving average is $24.41. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $65.50 billion, a PE ratio of 14.05 and a beta of 0.69.

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