Standard Chartered (OTCMKTS:SCBFF) Shares Gap Up – What’s Next?

Standard Chartered PLC (OTCMKTS:SCBFF) shares gapped up before the market opened on Wednesday . The stock had previously closed at $19.8375, but opened at $21.57. Standard Chartered shares last traded at $21.47, with a volume of 2,038 shares changing hands.

Analyst Ratings Changes

A number of research firms have issued reports on SCBFF. 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. Morgan Stanley reiterated an “overweight” rating on shares of Standard Chartered in a report on Wednesday, January 14th. Zacks Research downgraded Standard Chartered from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a research report on Wednesday, February 25th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Standard Chartered Stock Performance

The firm has a market capitalization of $48.31 billion, a PE ratio of 11.30 and a beta of 0.51. The stock’s 50-day simple moving average is $23.30 and its 200-day simple moving average is $22.12.

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