BENDIGO & ADELAIDE BANK LIMITED (BEN)
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BEN

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

$11.14

22 Jan
2026

0.380

OPEN

$10.95

3.53%

HIGH

$11.19

1,816,283

LOW

$10.91

TARGET
$10.30 -7.5% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AFG . ANZ . BOQ . CBA . HLI . MYS . NAB . RMC . SUN . WBC .
FNARENA'S MARKET CONSENSUS FORECASTS
BEN: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx - 17.2 81.4 xxx
DPS (cps) xxx 63.0 63.0 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx 0.0% 0.0% xxx
PE Ratio xxx N/A 13.6 xxx
Dividend Yield xxx N/A 5.7% xxx
Div Pay Ratio(%) xxx N/A 77.4% xxx

Dividend yield today if purchased 3 years ago: 6.19%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.69

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 6.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx-17.2
DPS All xxxxxxxxxxxxxxx63.0
Sales/Revenue xxxxxxxxxxxxxxx5,241.5 M
Book Value Per Share xxxxxxxxxxxxxxx1,183.0
Net Operating Cash Flow xxxxxxxxxxxxxxx143.5 M
Net Profit Margin xxxxxxxxxxxxxxx-1.85 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx-1.42 %
Return on Invested Capital xxxxxxxxxxxxxxx-0.65 %
Return on Assets xxxxxxxxxxxxxxx-0.10 %
Return on Equity xxxxxxxxxxxxxxx-1.42 %
Return on Total Capital xxxxxxxxxxxxxxx3.33 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-231.0 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx3,881 M
Long Term Debt xxxxxxxxxxxxxxx7,772 M
Total Debt xxxxxxxxxxxxxxx11,653 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx907 M
Price To Book Value xxxxxxxxxxxxxxx1.07

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx18.3 M
Capex % of Sales xxxxxxxxxxxxxxx0.35 %
Cost of Goods Sold xxxxxxxxxxxxxxx-
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx418 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx13,069 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

-0.5

No. Of Recommendations

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

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

5

xxxxxxxxx xx xxxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

19/12/2025

5

Underweight

$9.60

-13.82%

Morgan Stanley notes APRA has directed Bendigo & Adelaide Bank to conduct a root-cause review of broader non-financial risk issues and imposed a -$50m operational risk capital add-on. Meanwhile, AUSTRAC has opened an AML/CTF enforcement investigation.

The $50m charge implies -17bp CET1 impact, broadly as expected by the broker, but regulators signalled further actions remain possible. The broker believes the bank's remediation will extend beyond AML/CTF, with costs still unclear, and highlighted its forecasts assume $100m pre-tax provisions.

Underweight. Target unchanged at $9.60. Industry View: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 63.00 cents and EPS of 69.00 cents.
Morgan Stanley forecasts a full year FY27 dividend of 63.00 cents and EPS of 77.00 cents.

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

5

xxxxxxxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

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

Jarden

04/12/2025

3

Neutral

$11.00

-1.26%

Jarden observes several updates from Bendigo & Adelaide Bank at its 2025 Investor Day, including the acquisition of RACQ Bank's retail lending assets and deposits, with the transfer expected during 1H27.

Around 90k new customers will come on stream and the acquisition is anticipated to be both ROE and EPS positive.

Regarding the anti-money laundering investigation, little information was disclosed, with the analyst noting Deloitte was engaged in August 2025 to conduct an independent investigation.

The RACQ acquisition is considered as moving in the right direction to grow the regional lender's low cost deposit base. No change to Neutral rating and $11 target.

FORECAST
Jarden forecasts a full year FY26 dividend of 63.00 cents and EPS of 83.00 cents.
Jarden forecasts a full year FY27 dividend of 66.00 cents and EPS of 87.40 cents.
Access Extra Coverage Research History >

BEN STOCK CHART

FNArena News on BEN

1
Weekly Ratings, Targets, Forecast Changes – 16-01-26

Jan 19 2026 - Weekly Reports
2
Rudi’s View: Pre-February Top Picks & Favourites

Jan 15 2026 - Rudi's View
3
Australian Broker Call *Extra* Edition – Dec 08, 2025

Dec 08 2025 - Daily Market Reports
4
Weekly Ratings, Targets, Forecast Changes – 05-12-25

Dec 08 2025 - Weekly Reports
5
Next Week At A Glance – 8-12 Dec 2025

Dec 05 2025 - Weekly Reports

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