Short Interest in Standard Bank Group Limited (OTCMKTS:SGBLY) Drops By 84.0%

Standard Bank Group Limited (OTCMKTS:SGBLY) was the recipient of a significant drop in short interest during the month of 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 currently 0.1 days. Based on an average daily volume of 256,448 shares, the short-interest ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

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

Standard Bank Group Stock Down 2.2%

SGBLY traded down $0.40 on Tuesday, hitting $17.67. The company had a trading volume of 35,621 shares, compared to its average volume of 58,881. Standard Bank Group has a 1-year low of $10.55 and a 1-year high of $20.63. The company’s fifty day moving average price is $18.85 and its 200 day moving average price is $16.65.

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.