Standard Bank Group Limited (OTCMKTS:SGBLY) Short Interest Update

Standard Bank Group Limited (OTCMKTS:SGBLY) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totaling 72,902 shares, an increase of 206.3% from the November 30th total of 23,800 shares. Based on an average daily volume of 47,238 shares, the days-to-cover ratio is presently 1.5 days. Based on an average daily volume of 47,238 shares, the days-to-cover ratio is presently 1.5 days.

Analysts Set New Price Targets

A number of equities analysts recently commented on SGBLY shares. Investec upgraded Standard Bank Group from a “sell” rating to a “buy” rating in a report on Friday, September 19th. The Goldman Sachs Group started coverage on shares of Standard Bank Group in a research report on Thursday, November 13th. They set a “neutral” rating for the company. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Standard Bank Group Price Performance

OTCMKTS:SGBLY opened at $17.39 on Friday. Standard Bank Group has a 1-year low of $10.55 and a 1-year high of $17.85. The stock has a 50 day simple moving average of $15.75 and a 200 day simple moving average of $14.33.

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.