Standard Bank Group Limited (OTCMKTS:SGBLY) Short Interest Up 233.3% in April

Standard Bank Group Limited (OTCMKTS:SGBLY) was the recipient of a significant increase in short interest in April. As of April 30th, there was short interest totaling 58,809 shares, an increase of 233.3% from the April 15th total of 17,646 shares. Based on an average daily trading volume, of 102,341 shares, the days-to-cover ratio is presently 0.6 days.

Standard Bank Group Stock Performance

Shares of SGBLY traded down $0.42 on Friday, reaching $18.32. The stock had a trading volume of 36,386 shares, compared to its average volume of 60,546. The firm has a 50-day moving average of $18.65 and a 200 day moving average of $17.83. Standard Bank Group has a twelve month low of $12.22 and a twelve month high of $20.63.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. HSBC downgraded Standard Bank Group to a “hold” rating in a research note on Monday, May 4th. Investec downgraded Standard Bank Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 21st. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

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.