Short Interest in Standard Bank Group Limited (OTCMKTS:SGBLY) Increases By 27.0%

Standard Bank Group Limited (OTCMKTS:SGBLY) was the recipient of a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 128,932 shares, a growth of 27.0% from the February 12th total of 101,545 shares. Based on an average daily trading volume, of 122,916 shares, the days-to-cover ratio is currently 1.0 days. Based on an average daily trading volume, of 122,916 shares, the days-to-cover ratio is currently 1.0 days.

Analysts Set New Price Targets

Separately, Investec downgraded 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 MarketBeat, the stock has an average rating of “Hold”.

Standard Bank Group Price Performance

Shares of Standard Bank Group stock traded up $0.82 during trading on Monday, hitting $18.34. 61,510 shares of the company’s stock traded hands, compared to its average volume of 60,625. Standard Bank Group has a twelve month low of $10.55 and a twelve month high of $20.63. The firm’s fifty day moving average price is $18.83 and its 200 day moving average price is $16.48.

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.