Standard Bank Group Limited (OTCMKTS:SGBLY) Sees Large Growth in Short Interest

Standard Bank Group Limited (OTCMKTS:SGBLY) was the target of a significant increase in short interest in February. As of February 13th, there was short interest totaling 101,545 shares, an increase of 40.9% from the January 29th total of 72,058 shares. Based on an average trading volume of 76,744 shares, the days-to-cover ratio is presently 1.3 days. Based on an average trading volume of 76,744 shares, the days-to-cover ratio is presently 1.3 days.

Standard Bank Group Stock Down 1.2%

OTCMKTS:SGBLY opened at $20.30 on Monday. The business’s 50 day moving average is $18.65 and its two-hundred day moving average is $16.19. Standard Bank Group has a 52 week low of $10.55 and a 52 week high of $20.63.

Wall Street Analyst Weigh In

SGBLY has been the subject of a number of recent analyst reports. Investec lowered Standard Bank Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 21st. The Goldman Sachs Group began coverage on shares of Standard Bank Group in a research report on Thursday, November 13th. They set a “neutral” rating for the company. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

About Standard Bank Group

Standard Bank Group Limited is a South African financial services conglomerate headquartered in Johannesburg, offering a comprehensive range of banking and related services. Established in 1862, the group has grown to become one of Africa’s largest banks, serving individuals, small and medium-sized enterprises, and large corporations. Its core activities encompass personal and business banking, corporate and investment banking, wealth management, and insurance.

Within its personal and business banking division, Standard Bank provides transactional accounts, savings and deposits, mortgage lending, vehicle and asset finance, as well as payment solutions and digital banking platforms.