Bendigo and Adelaide Bank Limited (OTCMKTS:BXRBF) Short Interest Up 22.4% in March

Bendigo and Adelaide Bank Limited (OTCMKTS:BXRBF) was the target of a large increase in short interest during 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 short-interest ratio is presently 9,248.8 days.

Analyst Ratings Changes

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

Bendigo and Adelaide Bank Price Performance

Bendigo and Adelaide Bank stock remained flat at $7.25 during midday trading on Monday. Bendigo and Adelaide Bank has a 52-week low of $7.00 and a 52-week high of $7.55. The firm has a fifty day simple moving average of $7.17 and a 200-day simple moving average of $6.84.

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.