Standard Chartered (OTCMKTS:SCBFF) Shares Gap Up – Time to Buy?

Standard Chartered PLC (OTCMKTS:SCBFF)’s share 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 a number of analyst reports. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a research note on Thursday, July 16th. Keefe, Bruyette & Woods upgraded shares of Standard Chartered from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft raised shares of Standard Chartered from a “hold” rating to a “buy” rating in a report on Tuesday, June 23rd. Morgan Stanley restated an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, July 8th. Finally, UBS Group cut shares of Standard Chartered from a “buy” rating to a “hold” rating in a report on Thursday, July 23rd. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Standard Chartered Stock Down 0.6%

The business’s 50 day moving average is $28.01 and its 200-day moving average is $25.27. The stock has a market cap of $66.44 billion, a price-to-earnings ratio of 13.90 and a beta of 0.70. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.82 and a current ratio of 0.82.

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, topping analysts’ consensus estimates of $0.66 by $0.09. The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.59 billion. Standard Chartered had a net margin of 13.79% and a return on equity of 10.97%. On average, sell-side analysts predict that Standard Chartered PLC will post 2.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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.