Short Interest in Standard Bank Group Limited (OTCMKTS:SGBLY) Expands By 249.5%

Standard Bank Group Limited (OTCMKTS:SGBLY) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 28,778 shares, a growth of 249.5% from the July 15th total of 8,233 shares. Based on an average daily trading volume, of 71,672 shares, the short-interest ratio is presently 0.4 days.

Wall Street Analyst Weigh In

A number of analysts recently commented on SGBLY shares. HSBC lowered Standard Bank Group to a “hold” rating in a research note on Monday, May 4th. Zacks Research raised shares of Standard Bank Group to a “hold” rating in a research report on Friday, June 12th. Four analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

Standard Bank Group Stock Down 2.3%

Shares of SGBLY stock opened at $19.88 on Friday. The business’s fifty day moving average is $19.80 and its 200 day moving average is $19.28. Standard Bank Group has a twelve month low of $13.51 and a twelve month high of $20.74.

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.