Bendigo and Adelaide Bank (OTCMKTS:BXRBF) Shares Down 1.6% – Should You Sell?

Bendigo and Adelaide Bank Limited (OTCMKTS:BXRBF) fell 1.6% during mid-day trading on Thursday . The company traded as low as $7.43 and last traded at $7.43. 500 shares traded hands during trading, an increase of 11% from the average session volume of 450 shares. The stock had previously closed at $7.55.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised 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 equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $11.32.

Bendigo and Adelaide Bank Trading Down 1.6%

The firm has a 50-day moving average of $7.04 and a two-hundred day moving average of $6.74.

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.