BENDIGO & ADELAIDE BANK LIMITED (BEN)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

BEN - BENDIGO & ADELAIDE BANK LIMITED

FNArena Sector : Banks
Year End: June
GICS Industry Group : Banks
Debt/EBITDA: N/A
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Bendigo & Adelaide Bank is an Australian financial institution primarily focussed on retail banking. It is Australia's fifth largest retail bank. Bendigo Bank was first listed in 1985 and merged with Adelaide Bank in 2007.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$13.60

22 Nov
2024

0.200

OPEN

$13.53

1.49%

HIGH

$13.63

1,475,703

LOW

$13.47

TARGET
$10.45 -23.2% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ABA . AFG . ANZ . BOQ . CBA . HLI . MYS . NAB . RMC . SUN . WBC .
FNARENA'S MARKET CONSENSUS FORECASTS
BEN: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 96.3 89.0 xxx
DPS (cps) xxx 63.0 64.3 xxx
EPS Growth xxx 9.5% - 7.6% xxx
DPS Growth xxx 3.3% 2.1% xxx
PE Ratio xxx N/A 15.3 xxx
Dividend Yield xxx N/A 4.7% xxx
Div Pay Ratio(%) xxx 65.4% 72.3% xxx

Dividend yield today if purchased 3 years ago: 7.07%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.63

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 02/09 - ex-div 33c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx96.3
DPS All xxxxxxxxxxxxxxx63.0
Sales/Revenue xxxxxxxxxxxxxxx4,973.5 M
Book Value Per Share xxxxxxxxxxxxxxx1,244.3
Net Operating Cash Flow xxxxxxxxxxxxxxx838.8 M
Net Profit Margin xxxxxxxxxxxxxxx10.96 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx7.85 %
Return on Invested Capital xxxxxxxxxxxxxxx3.43 %
Return on Assets xxxxxxxxxxxxxxx0.55 %
Return on Equity xxxxxxxxxxxxxxx7.85 %
Return on Total Capital xxxxxxxxxxxxxxx3.30 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx460.6 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx2,441 M
Long Term Debt xxxxxxxxxxxxxxx8,617 M
Total Debt xxxxxxxxxxxxxxx11,058 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx1,597 M
Price To Book Value xxxxxxxxxxxxxxx0.92

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx27.2 M
Capex % of Sales xxxxxxxxxxxxxxx0.55 %
Cost of Goods Sold xxxxxxxxxxxxxxx-
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx442 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx11,953 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

-0.7

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Macquarie

xx/xx/xxxx

5

xxxxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Citi

27/08/2024

5

Sell

$9.75

-28.31%

Bendigo & Adelaide Bank reported FY24 earnings which were better than consensus estimates by 2%-3%, according to Citi.

A recovery in net interest margins in 2H24 boosted the performance as well as a return to loan growth. The broker doesn't believe these are sustainable as adjusted deposit rates and wholesale funding in 2H24 look set to reduce some of the cost benefits.

Citi is concerned by the two-year compound average cost growth of 10% and this is viewed as a key issue for the new CEO.

Earnings forecasts are tweaked by the analyst. Sell rated. Target prices moves to $9.75 from $9.50.

FORECAST
Citi forecasts a full year FY25 dividend of 64.00 cents and EPS of 86.10 cents.
Citi forecasts a full year FY26 dividend of 64.00 cents and EPS of 85.60 cents.

UBS

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Ord Minnett

xx/xx/xxxx

4

xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Goldman Sachs

xx/xx/xxxx

-1

xx xxxxxx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Jarden

02/09/2024

3

Neutral

$11.20

-17.65%

Bendigo & Adelaide Bank's FY24 profit was 1% above Jarden's estimate but aided by lower bad debts and higher below-the-line
costs. Elsewhere, margins were stronger than expected, while credit quality remains benign.

Near-term margin resilience looks set to continue, the broker suggests, given a sound June Q starting point and optionality in cutting term deposit pricing to boost net interest margin, although mortgage competition is the swing factor.

Despite this, Jarden continues to forecast a sub-par return on equity of 7.5% versus an elevated valuation of 1x price to book value. Target rises to $11.20 from $10.20, Neutral retained.

FORECAST
Jarden forecasts a full year FY25 dividend of 65.00 cents and EPS of 88.00 cents.
Jarden forecasts a full year FY26 dividend of 66.00 cents and EPS of 87.00 cents.
Access Extra Coverage Research History >

BEN STOCK CHART

FNArena News on BEN

1
Next Week At A Glance – 25-29 Nov 2024

Nov 22 2024 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Oct 16, 2024

Oct 16 2024 - Daily Market Reports
3
Australian Banks: When The End Of The Trend?

Oct 07 2024 - Feature Stories
4
In Brief: Collins Food, Domino’s, Guzman y Gomez & Artrya

Oct 04 2024 - Weekly Reports
5
Next Week At A Glance – 9-13 Sep 2024

Sep 06 2024 - Weekly Reports

Latest Banks News

1
ANZ Bank Shares Look Poised

Oct 29 2024 - Technicals
2
Australian Banks: When The End Of The Trend?

Oct 07 2024 - Feature Stories
3
CBA Shares Find Technical Support

Oct 01 2024 - Technicals
4
June In Review: FY24 Another Double Digit Return

Jul 03 2024 - Australia
5
In Brief: Gas, Gold, Groceries & Aussie Banks

Jun 07 2024 - Weekly Reports
6
Better Value In Smaller Banks?

Jun 03 2024 - Small Caps
7
Australian Banks Post First Half Results: Sugar Hit

May 23 2024 - Feature Stories
8
Rudi’s View: ANZ, AUB, Beach Energy, CSL, Flight Centre & Newmont

May 16 2024 - Rudi's View
9
April In Review: The Bond Market Roared

May 06 2024 - Australia
10
ESG Focus: Governance, Supply Chains, Risks

Apr 29 2024 - ESG Focus