Standard Bank Group Limited (OTCMKTS:SGBLY) Short Interest Up 159.3% in June

Standard Bank Group Limited (OTCMKTS:SGBLY) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totaling 47,924 shares, an increase of 159.3% from the May 31st total of 18,484 shares. Based on an average trading volume of 61,147 shares, the days-to-cover ratio is currently 0.8 days.

Standard Bank Group Stock Performance

Shares of SGBLY traded up $0.15 on Tuesday, reaching $19.84. 23,936 shares of the company’s stock traded hands, compared to its average volume of 53,096. The stock’s 50 day simple moving average is $19.19 and its two-hundred day simple moving average is $18.71. Standard Bank Group has a 52-week low of $12.22 and a 52-week high of $20.69.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SGBLY shares. Zacks Research upgraded shares of Standard Bank Group to a “hold” rating in a report on Friday, June 12th. HSBC downgraded Standard Bank Group to a “hold” rating in a research note on Monday, May 4th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Standard Bank Group currently has an average rating of “Hold”.

Standard Bank Group Company Profile

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.