Short Interest in Bendigo and Adelaide Bank Limited (OTCMKTS:BXRBF) Increases By 22.4%

Bendigo and Adelaide Bank Limited (OTCMKTS:BXRBF) was the target of a large increase in short interest in the month of 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 trading volume, of 180 shares, the days-to-cover ratio is currently 9,248.8 days.

Bendigo and Adelaide Bank Stock Performance

Bendigo and Adelaide Bank stock opened at $7.25 on Wednesday. Bendigo and Adelaide Bank has a 12 month low of $7.00 and a 12 month high of $7.55. The business has a 50 day simple moving average of $7.18 and a 200-day simple moving average of $6.85.

Wall Street Analyst Weigh In

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

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.