Short Interest in Standard Bank Group Limited (OTCMKTS:SGBLY) Drops By 86.7%

Standard Bank Group Limited (OTCMKTS:SGBLY) was the target of a large decrease in short interest in the month of January. As of January 15th, there was short interest totaling 16,301 shares, a decrease of 86.7% from the December 31st total of 123,004 shares. Based on an average daily trading volume, of 59,854 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily trading volume, of 59,854 shares, the days-to-cover ratio is currently 0.3 days.

Standard Bank Group Stock Up 2.2%

Shares of SGBLY traded up $0.41 during trading hours on Tuesday, hitting $18.99. 31,221 shares of the stock were exchanged, compared to its average volume of 29,933. The stock’s 50-day moving average price is $16.97 and its two-hundred day moving average price is $15.11. Standard Bank Group has a 12-month low of $10.55 and a 12-month high of $19.25.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SGBLY shares. The Goldman Sachs Group initiated coverage on shares of Standard Bank Group in a report on Thursday, November 13th. They issued a “neutral” rating for the company. Investec lowered shares of Standard Bank Group from a “buy” rating to a “hold” rating in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus 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.