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

Standard Chartered PLC (OTCMKTS:SCBFF)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $29.99, but opened at $30.7750. Standard Chartered shares last traded at $30.1250, with a volume of 946 shares traded.

Wall Street Analysts Forecast Growth

SCBFF has been the topic of several research reports. Morgan Stanley restated an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, July 8th. Keefe, Bruyette & Woods upgraded Standard Chartered from a “moderate sell” rating to a “hold” rating in a report on Wednesday, May 6th. Citigroup reissued a “neutral” rating on shares of Standard Chartered in a research report on Thursday, July 16th. UBS Group cut shares of Standard Chartered from a “buy” rating to a “hold” rating in a report on Thursday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft raised shares of Standard Chartered from a “hold” rating to a “buy” rating in a research report on Tuesday, June 23rd. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Standard Chartered Stock Performance

The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $67.75 billion, a P/E ratio of 14.18 and a beta of 0.70. The business has a 50-day moving average price of $27.81 and a 200 day moving average price of $25.21.

Standard Chartered (OTCMKTS:SCBFF) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. The company had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.59 billion. Standard Chartered had a return on equity of 10.97% and a net margin of 13.79%. As a group, sell-side analysts forecast that Standard Chartered PLC will post 2.44 EPS for the current fiscal year.

Institutional Trading of Standard Chartered

An institutional investor recently raised its position in Standard Chartered stock. Madison Asset Management LLC increased its holdings in shares of Standard Chartered PLC (OTCMKTS:SCBFF) by 13.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,447 shares of the company’s stock after purchasing an additional 5,154 shares during the quarter. Madison Asset Management LLC’s holdings in Standard Chartered were worth $2,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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.