Standard Chartered (OTCMKTS:SCBFF) Shares Gap Up - Here's What Happened

Key Points

• Standard Chartered shares gapped up 2.8%, opening at $30.6125 versus a prior close of $28.6375, though trading volume was only 120 shares.
• Analyst sentiment remains positive overall, with four Buy and four Hold ratings producing a consensus “Moderate Buy” rating.
• The bank exceeded quarterly expectations, reporting $0.75 in EPS versus a $0.66 estimate and revenue of $5.70 billion versus a $5.59 billion consensus; Madison Asset Management also increased its stake by 13.8%.

Standard Chartered PLC (OTCMKTS:SCBFF - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $28.6375, but opened at $30.6125. Standard Chartered shares last traded at $30.6125, with a volume of 120 shares.

Wall Street Analyst Weigh In

SCBFF has been the subject of several research reports. Deutsche Bank Aktiengesellschaft raised shares of Standard Chartered from a "hold" rating to a "buy" rating in a research report on Tuesday, June 23rd. UBS Group downgraded Standard Chartered from a "buy" rating to a "hold" rating in a report on Thursday, July 23rd. Citigroup reaffirmed a "neutral" rating on shares of Standard Chartered in a research report on Thursday, July 16th. Keefe, Bruyette & Woods raised shares of Standard Chartered from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Standard Chartered in a research note on Wednesday, July 8th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Standard Chartered currently has a consensus rating of "Moderate Buy".

Standard Chartered Trading Up 2.8%

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 company has a market cap of $67.40 billion, a price-to-earnings ratio of 14.10 and a beta of 0.70. The company's fifty day moving average is $28.14 and its two-hundred day moving average is $25.31.

Standard Chartered (OTCMKTS:SCBFF - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.66 by $0.09. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.59 billion. Standard Chartered had a net margin of 13.79% and a return on equity of 10.97%. On average, research analysts anticipate that Standard Chartered PLC will post 2.44 EPS for the current year.

Institutional Investors Weigh In On Standard Chartered

A hedge fund recently raised its position in Standard Chartered stock. Madison Asset Management LLC increased its stake in Standard Chartered PLC (OTCMKTS:SCBFF - Free Report) by 13.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,447 shares of the company's stock after acquiring an additional 5,154 shares during the quarter. Madison Asset Management LLC's holdings in Standard Chartered were worth $2,313,000 at the end of the most recent reporting period.

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.

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