Bendigo and Adelaide Bank Limited (OTCMKTS:BXRBF) Sees Large Growth in Short Interest

Bendigo and Adelaide Bank Limited (OTCMKTS:BXRBF) saw a significant increase in short interest in March. As of March 13th, there was short interest totaling 1,664,787 shares, an increase of 22.4% from the February 26th total of 1,359,847 shares. Based on an average daily volume of 180 shares, the days-to-cover ratio is presently 9,248.8 days.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upgraded shares of Bendigo and Adelaide Bank from a “neutral” rating to a “buy” rating and set a $11.32 price objective on the stock in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $11.32.

Bendigo and Adelaide Bank Price Performance

BXRBF remained flat at $7.25 during trading on Monday. The business’s fifty day simple moving average is $7.17 and its 200-day simple moving average is $6.84. Bendigo and Adelaide Bank has a 12 month low of $7.00 and a 12 month high of $7.55.

About Bendigo and Adelaide Bank

Bendigo and Adelaide Bank (OTCMKTS:BXRBF) is an Australian retail bank formed through the 2007 merger of Bendigo Bank and Adelaide Bank. Headquartered in Bendigo, Victoria, the bank has grown into one of the country’s largest regionally based financial institutions. It maintains a diversified presence across metropolitan and rural areas of Australia, operating through a combination of centrally managed branches, agencies and an innovative Community Bank franchise network that partners with local community groups.

The bank’s core business activities encompass a full range of retail, business and agribusiness banking services.