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

Standard Bank Group Limited (OTCMKTS:SGBLY) was the target of a large drop in short interest in March. As of March 13th, there was short interest totaling 20,585 shares, a drop of 84.0% from the February 26th total of 128,932 shares. Based on an average daily volume of 256,448 shares, the short-interest ratio is presently 0.1 days. Based on an average daily volume of 256,448 shares, the short-interest ratio is presently 0.1 days.

Standard Bank Group Trading Up 3.1%

Standard Bank Group stock traded up $0.54 during mid-day trading on Wednesday, hitting $18.21. The stock had a trading volume of 16,424 shares, compared to its average volume of 58,025. Standard Bank Group has a one year low of $10.55 and a one year high of $20.63. The firm’s 50 day moving average is $18.86 and its 200 day moving average is $16.68.

Analysts Set New Price Targets

Separately, Investec cut Standard Bank Group from a “buy” rating to a “hold” rating in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average 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.