BENDIGO & ADELAIDE BANK LIMITED (BEN)
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BEN - BENDIGO & ADELAIDE BANK LIMITED

FNArena Sector : Banks
Year End: June
GICS Industry Group : Banks
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

$10.30

29 Jul
2021

0.040

OPEN

$10.30

0.39%

HIGH

$10.31

0

LOW

$10.19

TARGET
$10.317 0.2% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ABA . ANZ . BOQ . CBA . NAB . SUN . WBC . GMA . MOC . AFG . MYS . RMC . VUK .
FNARENA'S MARKET CONSENSUS FORECASTS
BEN: 1
Title FY19
Actual
FY20
Actual
FY21
Forecast
FY22
Forecast
EPS (cps) xxx 38.1 72.1 xxx
DPS (cps) xxx 35.5 51.2 xxx
EPS Growth xxx - 50.5% 89.0% xxx
DPS Growth xxx - 49.3% 44.1% xxx
PE Ratio xxx N/A 14.3 xxx
Dividend Yield xxx N/A 5.0% xxx
Div Pay Ratio(%) xxx 93.1% 71.0% xxx

Dividend yield today if purchased 3 years ago: 3.03%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

3.44

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: 18/02 - 28c (100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2021 FactSet UK Limited. All rights reserved
Title 201520162017201820192020
EPS Basic xxxxxxxxxxxxxxx38.1
DPS All xxxxxxxxxxxxxxx35.5
Sales/Revenue xxxxxxxxxxxxxxx2,534.8 M
Book Value Per Share xxxxxxxxxxxxxxx1,092.4
Net Operating Cash Flow xxxxxxxxxxxxxxx354.6 M
Net Profit Margin xxxxxxxxxxxxxxx7.61 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

This is work in progress. Bear with us. It'll be amazing.

EXPERT VIEWS
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Sentiment Indicator

0.0

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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Citi

16/02/2021

3

Neutral

$10.50

1.94%

An "extraordinary" result from Bendigo & Adelaide Bank, the broker suggests, and duly rewarded. Earnings beat forecasts by 26%, mortgage growth was very strong and bad debts and funding costs fell sharply.

The dividend split was unusual, but greater confusion surrounds why the bank has sought to underwrite its DRP, effectively raising $150m in new capital when the bank's tier one level is alreadly comfortably above APRA requirements.

Despite slowing loan growth and improving profitability, the broker can only foresee half-year dividends of 23.5¢ out to FY23, which is the bottom of the Board’s 60-80% range. Target rises to $10.50 from $10.00, Neutral retained (High Risk).

FORECAST
Citi forecasts a full year FY21 dividend of 47.00 cents and EPS of 68.00 cents.
Citi forecasts a full year FY22 dividend of 47.00 cents and EPS of 64.70 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Credit Suisse

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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BEN STOCK CHART