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

Standard Bank Group Limited (OTCMKTS:SGBLY) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 123,004 shares, a growth of 68.7% from the December 15th total of 72,902 shares. Based on an average daily trading volume, of 62,996 shares, the days-to-cover ratio is currently 2.0 days. Based on an average daily trading volume, of 62,996 shares, the days-to-cover ratio is currently 2.0 days.

Analyst Upgrades and Downgrades

Several brokerages have commented on SGBLY. The Goldman Sachs Group started coverage on Standard Bank Group in a research note on Thursday, November 13th. They set a “neutral” rating for the company. Investec raised shares of Standard Bank Group from a “sell” rating to a “buy” rating in a research report on Friday, September 19th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Standard Bank Group has an average rating of “Moderate Buy”.

Standard Bank Group Stock Performance

Shares of SGBLY stock remained flat at $17.74 during trading hours on Friday. The stock had a trading volume of 43,309 shares, compared to its average volume of 31,310. The company’s fifty day simple moving average is $16.62 and its two-hundred day simple moving average is $14.82. Standard Bank Group has a fifty-two week low of $10.55 and a fifty-two week high of $18.18.

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.