Bourse Discourse: BEN, ADH, A2M
The final week of this reporting season kicked off yesterday with results from, among others, regional bank Bendigo and Adelaide, retailer Adairs and Kiwi dairy leader A2 Milk.
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The Bendigo and Adelaide Bank Group has a long and proud history.
For more than 160 years, we have actively listened and responded to the needs of our customers and their communities.
Our history began in 1858 on the Bendigo goldfields when we responded to the sudden and rapid wave of migration, establishing the Bendigo Mutual Permanent Land and Building Society to improve conditions for thousands of migrants seeking their fortune.
Soon after in 1877, South Australia’s Hindmarsh Building Society was established, founded on the principles that home ownership was the cornerstone of a successful community and that owning a home should be possible for everyone.
These businesses and more than 80 other organisations have come together to become the Bendigo and Adelaide Bank Group, an Australian owned, top 100 ASX listed company, with more than 110,000 shareholders.
Bendigo and Adelaide Bank has assets under management of more than $71.4 billion and market capitalisation of around $5.6 billion.
We are Australia’s fifth largest retail bank, with more than 7,200 staff helping our more than 1.7 million customers to achieve their financial goals.
Bendigo and Adelaide Bank’s vision is to be Australia’s bank of choice, and we believe our success is driven by helping our customers and the communities in which we operate to be successful.
This history informs who we are today
The final week of this reporting season kicked off yesterday with results from, among others, regional bank Bendigo and Adelaide, retailer Adairs and Kiwi dairy leader A2 Milk.
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An early Christmas present for shareholders in Bendigo and Adelaide Bank with a surprise upgrade in guidance - sending the shares to their highest close since August.
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The pressure on companies this reporting season is higher than ever. Here’s how Argo Investments, Bendigo and Adelaide Bank and Beach Energy fared on Monday after announcing their results.
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Investors ignored a sharp slide in Bendigo and Adelaide Bank's net interest margin and a slightly reduced dividend to send the shares up more than 4% in Monday's ASX trading.
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With peak reporting season upon us, here are snippets from the results announced yesterday by Bendigo and Adelaide Bank, Seven West Media, Carsales.com, and Lendlease.
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The broker maintains a Neutral rating. The $10.25 target price is unchanged.
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Macquarie believes the regional banks are more leveraged to improving deposit pricing and following a period of underperformance upgrades Bendigo & Adelaide Bank to Outperform from Neutral. Target is raised to $11.00 from $10.25.
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Higher-than-expected costs growth in the second half, in addition to commentary regarding a difficult market, leads Credit Suisse to believe FY21 will also experience higher costs and the benefits of the cost reduction program are likely only in FY22.
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Macquarie reviews impairment forecasts. With 10-15% of consumer and small-medium enterprise loans being deferred, along with a weak economic outlook, there is downside risk to bank earnings.
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Bendigo & Adelaide Bank's result was overshadowed by a large software expense impairment, a dividend cut and an announced capital raising.
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