Standard Bank Group Limited (OTCMKTS:SGBLY – Get Free Report) saw a large growth in short interest during 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 volume of 71,672 shares, the short-interest ratio is presently 0.4 days.
Standard Bank Group Stock Down 2.3%
Shares of SGBLY traded down $0.46 during trading hours on Friday, reaching $19.88. 47,619 shares of the company traded hands, compared to its average volume of 51,732. Standard Bank Group has a 12-month low of $13.51 and a 12-month high of $20.74. The stock’s fifty day moving average price is $19.77 and its 200 day moving average price is $19.27.
Analysts Set New Price Targets
Several analysts have issued reports on SGBLY shares. Zacks Research raised shares of Standard Bank Group to a “hold” rating in a research note on Friday, June 12th. HSBC cut Standard Bank Group to a “hold” rating in a research note on Monday, May 4th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Standard Bank Group 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.
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