Like its larger rivals, Bendigo and Adelaide Bank (ASX:BEN) has managed to weather the 2023-24 financial storm, emerging largely unscathed despite the challenges posed by high interest rates and a sluggish economy.
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In a surprise announcement, Bendigo and Adelaide Bank (ASX:BEN) has announced that CEO Marnie Baker is stepping down after 35 years with the bank, the last six as CEO. She will be replaced by the bank's current Chief Customer Officer, Richard Fennell, at the end of August.
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Bendigo and Adelaide Bank (ASX:BEN) has confirmed the appointment of Vicki Carter as the bank’s permanent chair, three weeks after David Foster stepped aside in the wake of his decision to stand down as chair of embattled casino owner Star Entertainment.
Read MoreThe 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.
Read MoreAn 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.
Read MoreThe 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.
Read MoreThe broker maintains a Neutral rating. The $10.25 target price is unchanged.
Read MoreInvestors 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.
Read MoreWith 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.
Read MoreIt was more good news on the bad debt front for Bendigo and Adelaide Bank which has joined its larger peers such as Westpac and the ANZ in writing back some of 2020’s provisions.
Read MoreMacquarie 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.
Read MoreBendigo and Adelaide Bank shares jumped 11% on Monday as investors looked favourably on the company’s dividend payout and upbeat outlook.
Read MoreLending growth, net interest margins and deferred loans were all better than expected for Bendigo and Adelaide Bank in the September quarter, boding well for the upcoming bank reporting period.
Read MoreShares in the Bendigo and Adelaide Bank edged up 0.2% in yesterday’s sell-off after it revealed an improvement in loan deferrals. In a trading update issued before the AGM yesterday, the bank said it had seen strong growth in lending as well.
Read MoreThe Banking Code and Compliance Committee (BCCC) has taken the unprecedented step of naming the largest regional bank, Bendigo and Adelaide Bank for “serious and systemic” breaches of its code of conduct.
Read MoreHigher-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.
Read MoreCovid-19 and the various lockdowns across Australia have destroyed earnings of Bendigo and Adelaide Bank, with the major regional lender revealing that profits for 2019-20 nearly halved.
Read MoreMacquarie 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.
Read MoreAssuming the lack of a bad debt apocalypse, the big banks certainly look cheap. But the smaller banks look even cheaper, which suggests there’s better value at the minnow end which is more oriented to mortgages than business lending.
Read MoreBendigo & Adelaide Bank has outlined an increase in provisioning related to the pandemic and brokers welcome the extra buffer in a deteriorating economic environment.
Read MoreBendigo and Adelaide Bank has joined its larger peers and lifted revealed a big provision of nearly $150 million for possible bad debts for the year to June.
Read MoreBendigo Bank has joined the Bank of Queensland in withdrawing its financial outlook for the six months to June 30 due to the “uncertainty” created by the coronavirus pandemic. Meanwhile, Macquarie analysts are the latest to go all gloomy about bank dividend levels and capital.
Read MoreAPRA, the financial regulator, has told banks, insurers, and other financial groups to think carefully about deciding whether dividends can be paid to shareholders over the rest of this year and into 2021.
Read MoreAnalysts argue Australia’s banks are in a much better position to weather this storm than they were in 2008, and have been oversold on that basis.
Read MoreAs expected shares in Bendigo and Adelaide Bank fell sharply in early trading on Tuesday after a number of brokers downgraded the company’s share price expectations and the company came out of a trading halt for a major fund raising.
Read MoreBendigo & Adelaide Bank’s result was overshadowed by a large software expense impairment, a dividend cut and an announced capital raising.
Read MoreTrading in Bendigo and Adelaide Bank shares should resume today and will fall sharply after the regional financial group yesterday revealed plans for a big capital raising and slashed the interim dividend.
Read MoreBendigo and Adelaide Bank will pay a steady final dividend of 35 cents a share (for a steady full-year payout of 70 cents) after revealing a weak 6.6% slide in cash earnings to $415.7 million for the year to June.
Read MoreThe guard continues to change in some of our regional financial groups. Bendigo and Adelaide Bank has appointed Jacqueline Hey to be its next chair, to replace long-serving chair Robert Johanson.
Read MoreBendigo and Adelaide Bank is getting out of financial advice by selling its business in this sector to IOOF (itself a challenged operator in financial advice and funds management) for $3 million dollars.
Read MoreNot everything’s going right for the smaller banks, but the findings of the Hayne Royal Commission present a perfect opportunity to woo discontented Big Four customers. Should investors follow?
Read MoreBendigo and Adelaide Bank disappointed the market yesterday with a softer than expected first-half profit, thanks to weak revenues and higher costs.
Read MoreBendigo and Adelaide Bank has joined the larger Commonwealth Bank in boosting its net interest margin for the first time in years for the six months to December.
Read MoreShares in Bendigo and Adelaide Bank sagged by nearly 5% at yesterday after shareholders were told at yesterday’s annual meeting that times were tough and challenging – and that was in effect a profit warning, although those words were not used.
Read MoreWhile not as good as the Commonwealth Bank’s 8% performance, but Bendigo and Adelaide Bank has managed a 4.2% lift in full-year cash earnings to $418.3 million for the 12 months to June 30, and the market cheered.
Read MoreThe scene has been set for the Commonwealth Bank’s (CBA) interim result tomorrow to either confirm the weaker trend in banking, or show that it can again outperform the rest of the sector.
Read MoreShareholders in Bendigo and Adelaide Bank (BEN) yesterday heard a now familiar refrain from a bank CEO about whether all of a Reserve Bank rate cut should be passed on.
Read MoreLike Argo Investments (ARG), regional bank, Bendigo and Adelaide (BEN) will pay a higher fully franked dividend for the year to June of 68 cents a share, up two cents after declaring a 34 cents a share final yesterday.
Read MoreBendigo and Adelaide Bank (BEN) will pay a fully franked interim dividend of 34 cents a share, up one cent from the first half of 2014-15 after reporting a modest 2.7% rise in cash earnings yesterday to $233.7 million.
Read MoreShares in regional lender Bendigo and Adelaide Bank (BEN) eased 2.6% yesterday in the wake of a full year result that just beat consensus by reporting a 13% rise in cash profit for 2015 to $432 million.
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DOWNLOAD RESEARCH REPORTSecures binding contract with Tier-1 OEMUS based anode active project gathers momentumMagnis Energy Technologies (MNS.ASX) – MNS is planning an anode active facility in the US and recently announced a binding, yet conditional, contract for the supply of anode active with Tesla. The contract is for a minimum 17.5kt/year with an option to purchase another 17.5t/year. Conditions precedent carry a tight development timeframe, with first production scheduled for February 2025. Site selection is underway and co-locating with an OEM on a brownfields site makes sense. Long lead items have been ordered and detailed engineering and design is expected to commence soon. |
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December Quarterly Report: Q2 FY2023Looking past the rain – there’s a rainbow.TerraCom released their operating results for the December quarter FY2023 with operating metrics being in line with our forecasts. Unseasonal rains in both Australia and South Africa contributed to operational and logistical issues across all mines, however guidance for annual production at Blair Athol is unaffected and highlights the quality of TerraCom’s skills in operational management. We continue to like the stable operating metrics around the company’s Australian operations and see potential for the South African operations to benefit from increased management focus given the rationalisation of operations following the closure of the Ubuntu mine. Corporate Connects overall financials remain unchanged as does our target price of $1.35 share. We maintain our forecast for a fully franked quarterly dividend of 7.5c/share to be paid in the March and June quarters of FY2023. |
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DOWNLOAD RESEARCH REPORTHigh performance synthetic anode & cathode materials Building a US based materials supply chainNOVONIX (ASX:NVX) – is scaling a synthetic anode materials plant in the US and piloting nickel rich cathode material in Canada. Why? China is dominant and growing – 100% of global natural anode and 68% of synthetic anode is refined in China. In short, China controls the global midstream battery chain by controlling 60% of chemical refining, 87% of anode manufacturing, 61% of cathode manufacturing and 73% of battery manufacturing. It is global battery supply and price domination at scale. |
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DOWNLOAD RESEARCH REPORTAntisense Therapeutics (ANP) Taking a Quick Approach to Long COVIDThis report looks at the results of a collaborative study Antisense undertook which looked at the largest protein expression database in Long COVID-19 patients who experienced neurologic symptoms well after the primary or acute SARS-CoV-2 infection was considered over (Groups 1 & 2, with 48 subjects Group 2 comprising a single patient from a different clinical site). The symptoms and others experienced by such patients result in a highly significant amount of illness, possibly more than all primary SARS-CoV-2 infections i.e COVID-19. |
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DOWNLOAD RESEARCH REPORT4Q reveals more focus on profit and cash flow• LBY’s 4Q FY22 quarterly activities update showed continued solid growth in top line metrics, albeit slowing, with GMV of NZ$203m (+26% on pcp) and income of NZ$12.1m (+23% on pcp).
• Net Transaction Margin (NTM) disappointed at -0.5%, due to further increase in credit losses from 4.0% to 4.9% of GMV. However, new fraud and credit risk management tools have seen losses recover materially with NTM back to 1.2% in March and LBY is confident of further recovery in coming months.
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DOWNLOAD RESEARCH REPORTSigns MOU with Ford Company – Kachi is now sold out!Lake Resources (LKE. ASX) – LKE has signed two non-binding MOU’s in the space of 10 days. Ford Company (Ford) has signed an MOU for ~25,000t/year and last week Hanwa, a Japanese commodity trader signed a MOU for up to 25,000t/year. Subject to execution, this is an amazing feat as Ford and Hanwa are prepared to enter into longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing but are expected, especially if Ford & Hanwa inject new equity into LKE, to further de-risk the project financing & thus ensure LKE and Kachi are fully funded. |
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DOWNLOAD RESEARCH REPORTStrategic Vanadium-battery growth with Titanium & Iron earnings resiliencyTNG Ltd is an ASX-listed technology owner and developer of the world-class Mount Peake near-surface vanadiferous titanomagnetite deposit. To unlock value, TNG will concentrate ore from its central Northern Territory mine for processing through its patented TIVAN® process produce three premium quality revenue streams: hi-purity vanadium pentoxide (V2O5) for steel alloys and Vanadium Redox Flow batteries, a quality titanium pigment for paints and a premium steel input with >64%Fe iron ore fines. |
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Promising exploration and development update while SOP prices continue to riseTwo recent gravity surveys have considerably exceeded expectations and revealed potential for extensions to the existing MRE at Lake Throssell, plus a material growth opportunity at Lake Yeo. This reinforces the potential for a multi-decade, Tier-1 SOP production hub based around Lake Throssell. TMG is currently completing work towards the PFS due early 2023, including drilling to start in Q3 2022, evaporation trials and permitting activities. Results from these programs will support the PFS and any future resource upgrade. Benchmark SOP prices have risen to ~US$940/t due to recent geopolitical developments. The Oct 2021 Scoping Study assumed a SOP price of US$550/t and contained a sensitivity analysis showing every 10% increase in price drives a +$144m increase in the project NPV of $364m. The c.70% increase above the Scoping Study thus implies a project NPV of ~$1.4bn. |
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DOWNLOAD RESEARCH REPORTIncreasing our TargetDespite the lower realised oil and gas price, which fell by 5.4% and 19.7% respectively in August, Calima managed to show improvement in its key business metrics. We expect higher production in November due to the contribution by the new Thorsby wells which will be drilled in August/September which will see Calima meet its 2021 production guidance of 4,500 boe/d. |
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DOWNLOAD RESEARCH REPORTEmerging Financial Wealth Advisory GroupWT Financial Group Limited (WTL) is a growing diversified financial services company, founded in 2010 and listed on the Australian Stock Exchange (ASX) in 2015. Its advice and product offerings are delivered primarily through a group of independent financial advisers operating as authorised representatives of WTL under its Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group) dealer group operations. It has around 275 advisers across more than 200 financial advice practices Australia-wide. It also operates a direct-to-consumer operation under its Spring Financial Group brand. |
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DOWNLOAD RESEARCH REPORTImmutep Taking the Fight to CancerIn May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive research report on ASX-listed biotech Immutep Ltd (ASX: IMM). So impressed was he with IMM that Corporate Connect felt it imperative that a follow-up report be released placing a valuation on the company, because the market was not seeing the vast potential of eftilagimod alpha (efti). This follow-up report has been released today. Using comparables, after adding cash back to their EV estimate and dividing by the total number of issued shares, Corporate Connect now places the fair value of an Immutep share at $A2.20. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaPayGroup (PYG) delivers multi-country BPO services and cloud SaaS HCM solutions, assisting companies to manage employees in multiple, complex jurisdictions. The company has many growth opportunities, including new clients, new jurisdictions, new products, partner expansion, and new revenue sources. PYG’s scalable business model allows operating leverage and with savings from in-housing third party technology, support margin expansion. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaOpenLearning (OLL) is a higher education technology company that operates a scalable online learning platform through a software-as-a-service (SaaS) business model and provides a global marketplace of high quality courses for learners of all levels. Its primary customers are education providers based in Australia and South-East Asia (primarily Malaysia). OLL started operations in Australia in 2012 and expanded to Malaysia in 2015, Singapore in 2018, and recently also Indonesia. |
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