Short-term interest in Standard Bank Group Limited (OTCMKTS:SGBLY) drops 52.6%

Standard Bank Group Limited (OTCMKTS:SGBLY – Get Rating) was the target of a sharp drop in short interest in May. As of May 15, there was short interest totaling 19,100 shares, down 52.6% from the total of 40,300 shares as of April 30. Based on an average trading volume of 61,500 shares, the day-to-cover ratio is currently 0.3 days.

OTCMKTS: SGBLY opened at $10.30 on Friday. The stock’s fifty-day moving average price is $11.14 and its two-hundred-day moving average price is $10.04. Standard Bank Group has a 52-week low of $7.46 and a 52-week high of $12.91.

The company also recently disclosed a dividend, which was paid on Thursday, April 21. Shareholders of record on Friday, April 8 received a dividend of $0.2524 per share. This represents a return of 3.35%. The ex-dividend date was Thursday, April 7.

Separately, Citigroup upgraded Standard Bank Group from a “neutral” rating to a “buy” rating in a Tuesday, March 29 report.

About Standard Banking Group (Get a rating)

Standard Bank Group Limited provides banking and financial products and services in Africa and internationally. The Company’s personal banking products include bank accounts, digital wallets, credit and prepaid cards, savings and investment products, and foreign exchange products and services; home, personal, car and student loans; financial planning and trading services; wills, estates and trust services, as well as auto, home, income, debt, funeral, life, travel, legal assistance and personal accident insurance.

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