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

$10.61

24 Mar
2025

0.130

OPEN

$10.55

1.24%

HIGH

$10.67

887,068

LOW

$10.46

TARGET
$10.49 -1.1% 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 FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 96.3 81.0 xxx
DPS (cps) xxx 63.0 61.9 xxx
EPS Growth xxx 9.5% - 16.0% xxx
DPS Growth xxx 3.3% - 1.8% xxx
PE Ratio xxx N/A 13.0 xxx
Dividend Yield xxx N/A 5.9% xxx
Div Pay Ratio(%) xxx 65.4% 76.4% xxx

Dividend yield today if purchased 3 years ago: 6.21%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.98

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 © 2025 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

-0.6

No. Of Recommendations

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

Ord Minnett

xx/xx/xxxx

3

xxxxxxx xx xxxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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UBS

18/02/2025

5

Sell

$11.00

3.68%

UBS notes Bendigo & Adelaide Bank reported a "disappointing" 1H25 result, with a miss on net interest margin by -8bps to 188bps, below the consensus estimate of 196bps.

Opex trended upwards and came in above consensus by 2% due to more elevated staffing costs.

The analyst lowers cash EPS forecasts for the bank by -2.5% and -5.8% for FY25 and FY26, respectively.

Target price slips to $11 from $11.50.

FORECAST
UBS forecasts a full year FY25 dividend of 61.00 cents and EPS of 84.00 cents.
UBS forecasts a full year FY26 dividend of 63.00 cents and EPS of 80.00 cents.

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

5

xxxxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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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

19/02/2025

3

Neutral

$11.50

8.39%

Bendigo & Adelaide Bank's 1H25 result disappointed, with net interest margin (NIM) down -6bp sequentially to 1.88% vs Jarden's forecast of 1.93%. The margin hit from mortgage competition of -4bp was similar to 2H24, while the residual drags were driven from wholesale funding mix (-3bp) and deposit pricing (-3bp).

The broker expects margin pressure to continue as the bank seeks above system volume growth in mortgages and being a price taker in the deposit space. The analyst has nudged down 2H NIM to 1.85%, with a sharper decline estimated in FY26.

Neutral rating maintained and target price is $11.5.

FORECAST
Jarden forecasts a full year FY25 dividend of 63.00 cents and EPS of 83.80 cents.
Jarden forecasts a full year FY26 dividend of 63.00 cents and EPS of 81.30 cents.
Access Extra Coverage Research History >

BEN STOCK CHART

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