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

Standard Chartered PLC (OTCMKTS:SCBFF)’s stock price gapped up before the market opened 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 traded.

Analyst Ratings Changes

A number of research firms have recently weighed in on SCBFF. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a research note on Monday, November 3rd. The Goldman Sachs Group upgraded shares of Standard Chartered from a “hold” rating to a “buy” rating in a report on Thursday, December 11th. Morgan Stanley upgraded shares of Standard Chartered from an “equal weight” rating to an “overweight” rating in a research report on Monday, November 24th. Finally, Zacks Research upgraded Standard Chartered from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

Standard Chartered Price Performance

The stock has a 50-day simple moving average of $21.80 and a 200-day simple moving average of $19.46. The stock has a market cap of $56.16 billion, a PE ratio of 13.14 and a beta of 0.54.

Standard Chartered (OTCMKTS:SCBFF) last announced its earnings results on Thursday, October 30th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.45 by $0.06. Standard Chartered had a return on equity of 10.88% and a net margin of 12.84%.The business had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $4.97 billion. As a group, equities research analysts anticipate that Standard Chartered PLC will post 1.66 EPS 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.