Standard Bank Group Limited (OTCMKTS:SGBLY) Sees Significant Decrease in Short Interest

Standard Bank Group Limited (OTCMKTS:SGBLY) saw a large drop in short interest in May. As of May 15th, there was short interest totaling 6,942 shares, a drop of 88.2% from the April 30th total of 58,809 shares. Based on an average daily volume of 91,013 shares, the short-interest ratio is currently 0.1 days.

Analysts Set New Price Targets

Separately, HSBC lowered shares of Standard Bank Group to a “hold” rating in a research report on Monday, May 4th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Standard Bank Group Stock Performance

OTCMKTS:SGBLY opened at $19.35 on Friday. Standard Bank Group has a twelve month low of $12.22 and a twelve month high of $20.63. The company has a 50-day moving average of $18.88 and a 200-day moving average of $18.14.

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.