The stock of Bendigo and Adelaide Bank Ltd (ASX:BEN) hit a new 52-week high and has $12.50 target or 4.00% above today’s $12.02 share price. The 9 months bullish chart indicates low risk for the $5.68 billion company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $12.50 price target is reached, the company will be worth $227.20M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 1.43% or $0.17 on November 29, hitting $12.02. About 1.73 million shares traded hands or 28.15% up from the average. Bendigo and Adelaide Bank Ltd (ASX:BEN) has risen 28.01% since May 3, 2016 and is uptrending. It has outperformed by 22.75% the S&P500.
More notable recent Bendigo and Adelaide Bank Ltd (ASX:BEN) news were published by: Fool.com.Au which released: “Dividend duel: Bendigo and Adelaide Bank Ltd v Bank of Queensland Limited” on November 06, 2016, also Fool.com.Au with their article: “Why you should avoid Bendigo and Adelaide Bank Ltd, Woolworths Limited and …” published on May 17, 2016, Fool.com.Au published: “Bendigo and Adelaide Bank Ltd lifts dividend, is it a buy?” on August 08, 2016. More interesting news about Bendigo and Adelaide Bank Ltd (ASX:BEN) were released by: Fool.com.Au and their article: “Bendigo and Adelaide Bank Ltd shares sink on profit crash” published on February 15, 2016 as well as Fool.com.Au‘s news article titled: “Is it time to buy Bendigo and Adelaide Bank Ltd shares?” with publication date: March 18, 2016.
Bendigo and Adelaide Bank Limited is engaged in the provision of banking and other financial services. The company has a market cap of $5.68 billion. The Company’s divisions include Local connection, which includes all distribution channels, including branch and community banking, business banking, Delphi Bank, financial markets and network support; Partner connection, which includes all partner distribution channels, including mortgage brokers, mortgage managers, mortgage originators, alliance partners, home safe, leveraged, portfolio funding, financial planning, wealth management, responsible entity activities, other trustee services and custodial services, and Agribusiness, which includes the provision of banking services to agribusiness in rural and regional Australia. It has a 14.78 P/E ratio. Rural bank and rural finance are included within the agribusiness segment.
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