Standard Bank Group Limited (OTCMKTS:SGBLY) Short Interest Down 66.5% in June

Standard Bank Group Limited (OTCMKTS:SGBLY) saw a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 16,054 shares, a drop of 66.5% from the June 15th total of 47,924 shares. Based on an average trading volume of 63,829 shares, the short-interest ratio is currently 0.3 days.

Standard Bank Group Stock Performance

OTCMKTS:SGBLY opened at $19.65 on Wednesday. Standard Bank Group has a 12-month low of $12.36 and a 12-month high of $20.69. The company’s 50-day moving average is $19.35 and its two-hundred day moving average is $18.94.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Zacks Research raised Standard Bank Group to a “hold” rating in a research note on Friday, June 12th. HSBC downgraded Standard Bank Group to a “hold” rating in a research report on Monday, May 4th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average 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.