Short Interest in Standard Bank Group Limited (OTCMKTS:SGBLY) Decreases By 86.7%

Standard Bank Group Limited (OTCMKTS:SGBLY) was the target of a significant drop in short interest in January. As of January 15th, there was short interest totaling 16,301 shares, a drop of 86.7% from the December 31st total of 123,004 shares. Based on an average daily trading volume, of 59,854 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily trading volume, of 59,854 shares, the days-to-cover ratio is presently 0.3 days.

Analyst Upgrades and Downgrades

SGBLY has been the topic of a number of research analyst reports. Investec downgraded Standard Bank Group from a “buy” rating to a “hold” rating in a report on Wednesday, January 21st. The Goldman Sachs Group began coverage on Standard Bank Group in a research report on Thursday, November 13th. They set a “neutral” rating on the stock. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Standard Bank Group Stock Up 2.2%

SGBLY opened at $18.99 on Wednesday. The business’s 50 day moving average is $16.97 and its 200-day moving average is $15.11. Standard Bank Group has a twelve month low of $10.55 and a twelve month high of $19.25.

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.