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

Standard Bank Group Limited (OTCMKTS:SGBLY) was the recipient of a large increase in short interest in May. As of May 29th, there was short interest totaling 18,484 shares, an increase of 166.3% from the May 14th total of 6,942 shares. Based on an average trading volume of 56,597 shares, the short-interest ratio is currently 0.3 days.

Analysts Set New Price Targets

Separately, HSBC lowered Standard Bank Group to a “hold” rating in a report on Monday, May 4th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Standard Bank Group Trading Up 4.1%

Shares of SGBLY traded up $0.77 during mid-day trading on Friday, reaching $19.60. The company had a trading volume of 175 shares, compared to its average volume of 55,337. Standard Bank Group has a twelve month low of $12.22 and a twelve month high of $20.63. The company’s 50-day moving average is $19.08 and its 200-day moving average is $18.36.

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.