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

Standard Bank Group Limited (OTCMKTS:SGBLY) was the target of a large increase in short interest in July. As of July 31st, there was short interest totaling 28,778 shares, an increase of 249.5% from the July 15th total of 8,233 shares. Based on an average trading volume of 71,672 shares, the short-interest ratio is currently 0.4 days.

Standard Bank Group Price Performance

Shares of OTCMKTS:SGBLY traded up $0.29 on Thursday, reaching $20.35. The company had a trading volume of 3,559 shares, compared to its average volume of 51,590. The stock has a 50-day moving average price of $19.74 and a 200 day moving average price of $19.26. Standard Bank Group has a twelve month low of $13.51 and a twelve month high of $20.74.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Zacks Research upgraded Standard Bank Group to a “hold” rating in a report on Friday, June 12th. HSBC downgraded Standard Bank Group to a “hold” rating in a research note on Monday, May 4th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Standard Bank Group Company Profile

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.