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

Standard Chartered PLC (OTCMKTS:SCBFF)’s share price gapped down before the market opened on Monday . The stock had previously closed at $21.6325, but opened at $20.32. Standard Chartered shares last traded at $20.4775, with a volume of 777 shares.

Analysts Set New Price Targets

Several analysts have recently issued reports on SCBFF shares. Citigroup reissued a “neutral” rating on shares of Standard Chartered in a report on Wednesday, February 25th. Zacks Research downgraded shares of Standard Chartered from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. The Goldman Sachs Group upgraded shares of Standard Chartered from a “hold” rating to a “buy” rating in a research report on Thursday, December 11th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Standard Chartered in a report on Wednesday, January 14th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Standard Chartered has an average rating of “Moderate Buy”.

Standard Chartered Price Performance

The stock has a market cap of $46.53 billion, a P/E ratio of 10.89 and a beta of 0.51. The stock has a 50-day simple moving average of $24.30 and a 200-day simple moving average of $21.97.

Standard Chartered (OTCMKTS:SCBFF) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.02). The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.82 billion. Standard Chartered had a net margin of 12.86% and a return on equity of 10.77%. As a group, sell-side analysts forecast that Standard Chartered PLC will post 1.66 earnings per share 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.