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

Standard Chartered PLC (OTCMKTS:SCBFF) shares gapped up before the market opened on Friday . The stock had previously closed at $24.20, but opened at $26.05. Standard Chartered shares last traded at $25.1675, with a volume of 507 shares.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SCBFF shares. Keefe, Bruyette & Woods upgraded Standard Chartered from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Morgan Stanley reiterated an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, May 13th. Citigroup reiterated a “neutral” rating on shares of Standard Chartered in a research note on Friday, May 1st. Finally, BNP Paribas Exane upgraded Standard Chartered to an “outperform” rating in a research note on Tuesday, April 14th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Standard Chartered has an average rating of “Moderate Buy”.

Standard Chartered Stock Up 0.8%

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 firm has a market cap of $57.22 billion, a price-to-earnings ratio of 12.28 and a beta of 0.68. The firm has a 50-day moving average of $24.47 and a two-hundred day moving average of $23.78.

Standard Chartered (OTCMKTS:SCBFF) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.18. Standard Chartered had a return on equity of 11.07% and a net margin of 13.63%.The business had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $5.58 billion. As a group, sell-side analysts predict that Standard Chartered PLC will post 2.26 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.