Short Interest in Standard Bank Group Limited (OTCMKTS:SGBLY) Declines By 88.2%

Standard Bank Group Limited (OTCMKTS:SGBLY) was the recipient of a large decline in short interest during the month of May. As of May 15th, there was short interest totaling 6,942 shares, a decline of 88.2% from the April 30th total of 58,809 shares. Based on an average trading volume of 91,013 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

Separately, HSBC cut shares of Standard Bank Group to a “hold” rating in a research note on Monday, May 4th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Standard Bank Group Price Performance

Standard Bank Group stock opened at $19.68 on Thursday. The firm has a 50 day simple moving average of $18.83 and a 200-day simple moving average of $18.10. Standard Bank Group has a 1-year low of $12.22 and a 1-year high of $20.63.

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.