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

Standard Bank Group Limited (OTCMKTS:SGBLY) was the recipient of a significant increase in short interest in the month of 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 daily volume of 76,744 shares, the days-to-cover ratio is presently 1.3 days. Based on an average daily volume of 76,744 shares, the days-to-cover ratio is presently 1.3 days.

Standard Bank Group Price Performance

OTCMKTS SGBLY opened at $20.30 on Monday. The company’s fifty day simple moving average is $18.65 and its 200-day simple moving average is $16.19. Standard Bank Group has a 52 week low of $10.55 and a 52 week high of $20.63.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Investec lowered shares of Standard Bank Group from a “buy” rating to a “hold” rating in a report on Wednesday, January 21st. The Goldman Sachs Group started coverage on Standard Bank Group in a report on Thursday, November 13th. They issued a “neutral” rating on the stock. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Standard Bank Group 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.