Standard Chartered (OTCMKTS:SCBFF) Shares Gap Up - Still a Buy?

Key Points

• Standard Chartered shares gapped up before Friday’s open, rising from a previous close of $27.45 to an opening and last trade of $29.0275 on light volume.
• Analyst sentiment remains mixed but constructive: the stock has four Buy ratings and four Hold ratings, giving it a Moderate Buy average rating overall.
• The bank recently beat quarterly expectations, reporting $0.72 EPS versus $0.54 expected and revenue of $5.90 billion versus $5.58 billion forecast.

Standard Chartered PLC (OTCMKTS:SCBFF - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $27.45, but opened at $29.0275. Standard Chartered shares last traded at $29.0275, with a volume of 193 shares traded.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Morgan Stanley restated an "overweight" rating on shares of Standard Chartered in a report on Wednesday, July 8th. BNP Paribas Exane raised Standard Chartered to an "outperform" rating in a report on Tuesday, April 14th. Keefe, Bruyette & Woods raised Standard Chartered from a "moderate sell" rating to a "hold" rating in a research note on Wednesday, May 6th. UBS Group lowered Standard Chartered from a "buy" rating to a "neutral" rating in a report on Thursday. Finally, Citigroup reaffirmed a "neutral" rating on shares of Standard Chartered in a research report on Thursday, July 16th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy".

Standard Chartered Price Performance

The company has a market capitalization of $63.69 billion, a P/E ratio of 13.66 and a beta of 0.69. The stock's fifty day simple moving average is $26.67 and its 200-day simple moving average is $24.67. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.82 and a quick ratio of 0.82.

Standard Chartered (OTCMKTS:SCBFF - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.72 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $5.58 billion. On average, equities analysts forecast 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.

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