Executive Summary
Bendigo and Adelaide Bank Limited provides banking and financial services to retail customers and small to medium sized businesses in Australia.
Rewards
Risk Analysis
Snowflake Analysis
Flawless balance sheet average dividend payer.
Similar Companies
Share Price & News
How has Bendigo and Adelaide Bank's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: BEN's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
6.7%
BEN
4.0%
AU Banks
3.1%
AU Market
1 Year Return
-38.8%
BEN
-27.9%
AU Banks
-6.9%
AU Market
Return vs Industry: BEN underperformed the Australian Banks industry which returned -27.9% over the past year.
Return vs Market: BEN underperformed the Australian Market which returned -6.9% over the past year.
Shareholder returns
| BEN | Industry | Market | |
|---|---|---|---|
| 7 Day | 6.7% | 4.0% | 3.1% |
| 30 Day | 13.8% | 12.4% | 13.0% |
| 90 Day | -10.2% | -18.0% | -6.0% |
| 1 Year | -34.4%-38.8% | -24.9%-27.9% | -3.0%-6.9% |
| 3 Year | -19.5%-33.9% | -17.8%-30.3% | 17.8%2.2% |
| 5 Year | -19.9%-42.1% | -11.1%-34.6% | 34.4%5.4% |
Price Volatility Vs. Market
How volatile is Bendigo and Adelaide Bank's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 month ago | Simply Wall St
Why Bendigo and Adelaide Bank Limited (ASX:BEN) Could Be Worth Watching2 months ago | Simply Wall St
Trade Alert: The Independent Director Of Bendigo and Adelaide Bank Limited (ASX:BEN), Antony Robinson, Has Just Spent AU$61k Buying Shares3 months ago | Simply Wall St
Introducing Bendigo and Adelaide Bank (ASX:BEN), The Stock That Dropped 27% In The Last Five YearsValuation
Is Bendigo and Adelaide Bank undervalued compared to its fair value and its price relative to the market?
10.76x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: BEN (A$6.99) is trading above our estimate of fair value (A$4.53)
Significantly Below Fair Value: BEN is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: BEN is poor value based on its PE Ratio (10.8x) compared to the Banks industry average (9.9x).
PE vs Market: BEN is good value based on its PE Ratio (10.8x) compared to the Australian market (15.7x).
Price to Earnings Growth Ratio
PEG Ratio: BEN is good value based on its PEG Ratio (1x)
Price to Book Ratio
PB vs Industry: BEN is good value based on its PB Ratio (0.6x) compared to the AU Banks industry average (0.9x).
Next Steps
Future Growth
How is Bendigo and Adelaide Bank forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?
11.3%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: BEN's forecast earnings growth (11.3% per year) is above the savings rate (2.3%).
Earnings vs Market: BEN's earnings (11.3% per year) are forecast to grow slower than the Australian market (14.5% per year).
High Growth Earnings: BEN's earnings are forecast to grow, but not significantly.
Revenue vs Market: BEN's revenue (1.4% per year) is forecast to grow slower than the Australian market (4.2% per year).
High Growth Revenue: BEN's revenue (1.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: BEN's Return on Equity is forecast to be low in 3 years time (5.6%).
Next Steps
Past Performance
How has Bendigo and Adelaide Bank performed over the past 5 years?
-2.2%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: BEN has a high level of non-cash earnings.
Growing Profit Margin: BEN's current net profit margins (20.7%) are lower than last year (26.5%).
Past Earnings Growth Analysis
Earnings Trend: BEN's earnings have declined by -2.2% per year over the past 5 years.
Accelerating Growth: BEN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: BEN had negative earnings growth (-21.3%) over the past year, making it difficult to compare to the Banks industry average (-13.6%).
Return on Equity
High ROE: BEN's Return on Equity (5.7%) is considered low.
Next Steps
Financial Health
How is Bendigo and Adelaide Bank's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Financial Institutions Analysis
Asset Level: BEN's Assets to Equity ratio (13.3x) is moderate.
Allowance for Bad Loans: BEN has a sufficient allowance for bad loans (126%).
Low Risk Liabilities: 91% of BEN's liabilities are made up of primarily low risk sources of funding.
Loan Level: BEN has an appropriate level of Loans to Assets ratio (84%).
Low Risk Deposits: BEN's Loans to Deposits ratio (100%) is appropriate.
Level of Bad Loans: BEN has an appropriate level of bad loans (0.4%).
Next Steps
Dividend
What is Bendigo and Adelaide Bank's current dividend yield, its reliability and sustainability?
8.87%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: BEN's dividend (8.87%) is higher than the bottom 25% of dividend payers in the Australian market (2.52%).
High Dividend: BEN's dividend (8.87%) is in the top 25% of dividend payers in the Australian market (6.55%)
Stability and Growth of Payments
Stable Dividend: BEN's dividend payments have been volatile in the past 10 years.
Growing Dividend: BEN's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (101.6%), BEN's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: BEN's dividends in 3 years are forecast to be covered by earnings (70% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
1.8yrs
Average management tenure
CEO
Marnie Baker (50yo)
1.92yrs
Tenure
AU$2,283,141
Compensation
Ms. Marnie A. Baker, BBus (Acc), ASA, MAICD, SF FIN, has been Managing Director at Bendigo and Adelaide Bank Limited since July 02, 2018 and serves as its Chief Executive Officer. Ms. Baker has been a Dire ...
CEO Compensation Analysis
Compensation vs Market: Marnie's total compensation ($USD1.59M) is about average for companies of similar size in the Australian market ($USD2.18M).
Compensation vs Earnings: Marnie's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, MD & Director | 1.92yrs | AU$2.28m | 0.12% A$4.4m | |
| Chief Financial Officer | 1.83yrs | AU$519.84k | no data | |
| Executive of Rural Bank | no data | AU$538.03k | no data | |
| Executive of Customer Banking | no data | AU$1.14m | no data | |
| Executive of Business Banking | 4.75yrs | AU$594.98k | no data | |
| Chief Risk Officer | no data | AU$661.83k | no data | |
| Head of Investor Relations | no data | no data | no data | |
| Head of Public Relations | no data | no data | no data | |
| Chief People Officer | 1.67yrs | no data | no data | |
| Chief of Staff | 0.67yr | no data | no data |
1.8yrs
Average Tenure
Experienced Management: BEN's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, MD & Director | 1.92yrs | AU$2.28m | 0.12% A$4.4m | |
| Independent Director | 14.17yrs | AU$243.12k | 0.0081% A$293.4k | |
| Independent Director | 10.25yrs | AU$201.45k | 0.0072% A$258.4k | |
| Independent Director | 0.75yr | no data | 0.00051% A$18.4k | |
| Independent Chairman of the Board | 0.67yr | AU$201.45k | 0.0058% A$208.3k | |
| Independent Director | 10.25yrs | AU$217.35k | 0.0070% A$253.7k | |
| Independent Director | 7.17yrs | AU$201.45k | 0.0040% A$146.2k | |
| Independent Director | 4.33yrs | AU$201.45k | 0.0015% A$54.5k | |
| Independent Director | 1.75yrs | AU$166.86k | 0.0014% A$49.1k |
7.2yrs
Average Tenure
60yo
Average Age
Experienced Board: BEN's board of directors are considered experienced (7.2 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: BEN insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 8%.
Top Shareholders
Company Information
Bendigo and Adelaide Bank Limited's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Bendigo and Adelaide Bank Limited
- Ticker: BEN
- Exchange: ASX
- Founded: 1858
- Industry: Regional Banks
- Sector: Banks
- Market Cap: AU$3.609b
- Shares outstanding: 530.78m
- Website: https://www.bendigoadelaide.com.au
Number of Employees
Location
- Bendigo and Adelaide Bank Limited
- The Bendigo Centre
- Bendigo
- Victoria
- 3550
- Australia
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| BEN | ASX (Australian Securities Exchange) | Yes | Ordinary Shares | AU | AUD | Feb 1993 |
| BXRB.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Feb 1993 |
| BDJ | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Feb 1993 |
| BEN | CHIA (Chi-X Australia) | Yes | Ordinary Shares | AU | AUD | Feb 1993 |
| BENPE | ASX (Australian Securities Exchange) | CNV PRF SHS (CPS 2) | AU | AUD | Oct 2014 | |
| BENPF | ASX (Australian Securities Exchange) | CNV PRF SHS (CPS 3) | AU | AUD | Jun 2015 | |
| BENPG | ASX (Australian Securities Exchange) | CNV PRF SHS (CPS 4) | AU | AUD | Dec 2017 |
Biography
Bendigo and Adelaide Bank Limited provides banking and financial services to retail customers and small to medium sized businesses in Australia. It operates through three segments: Consumer, Business, and Agribusiness. The company offers business, residential, agri-business, and consumer lending services, as well as commercial mortgages and unsecured loans; and deposit-taking, payment, wealth management, treasury, and foreign exchange services. It also provides insurance and superannuation, and investment services; and banking products and services to agribusiness participants. The company operates 168 Bendigo Bank, 324 Community Bank, 21 Alliance Bank, 15 Delphi Bank, and 4 private franchise branches, as well as 215 rural bank points and 632 ATMs. Bendigo and Adelaide Bank Limited was founded in 1858 and is headquartered in Bendigo, Australia.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/06/04 10:36 |
| End of Day Share Price | 2020/06/04 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/06/30 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.