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

Standard Chartered PLC (OTCMKTS:SCBFF) gapped down before the market opened on Wednesday . The stock had previously closed at $27.7750, but opened at $26.45. Standard Chartered shares last traded at $26.7675, with a volume of 1,874 shares.

Wall Street Analyst Weigh In

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

Standard Chartered Stock Performance

The firm’s fifty day moving average price is $24.00 and its 200-day moving average price is $23.61. 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 $57.53 billion, a price-to-earnings ratio of 12.34 and a beta of 0.68.

Standard Chartered (OTCMKTS:SCBFF) last issued its earnings results on Thursday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.18. The business had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $5.58 billion. Standard Chartered had a net margin of 13.63% and a return on equity of 11.07%. Analysts expect that Standard Chartered PLC will post 2.26 earnings per share 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.