# BEN - Bendigo Bank



## GreatPig (22 August 2005)

Interesting take-off with Bendigo Bank these last few days. After breaking through the downward trend line, as shown on the lower chart, it's just shot up and is now at its all-time high of $11, where it was back in March last year.

I wonder if that will kill it, especially after such a sudden rise, or it will push on through. Perhaps it will oscillate in an upward-sloping triangle between the $11 resistance and the main trend line.

I'll be watching to see 

GP


[I don't hold]


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## 26 Broadway (16 May 2006)

Peaked a few days back in the $14 area before settling back to the early to mid $13 mark.


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## GreatPig (16 May 2006)

An updated chart from about where my previous ones left off.

Cheers,
GP


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## FXST01 (28 May 2006)

still sitting at about $13


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## 26 Broadway (9 June 2006)

Now down in the low $12's ..... seems to be excessively catered for in "middle management", may need to make some hard calls.


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## 26 Broadway (18 October 2006)

Has now broken through the $15 dollar mark.

Has also allocated over 1.5 million in shares to staff, being funded by interest free loans.

And hello to you, FXST01


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## theasxgorilla (19 March 2007)

Bendigo Bank in a trading halt due to BOQ announcing a proposed merger.

Will it open up, or down?


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## Sean K (19 March 2007)

theasxgorilla said:
			
		

> Bendigo Bank in a trading halt due to BOQ announcing a proposed merger.
> 
> Will it open up, or down?



Guess up. This merger has been touted for a while and it seems to be a good mix to me. Positive for both.


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## theasxgorilla (19 March 2007)

UP, 31% on open.  Payday for someone.


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## Halba (19 March 2007)

Bit surprising this rise. $17.50 is a bit rich for BEN.

EPS(c) PE Growth 
Year Ending 30-06-07 82.4 16.0 14.5% 
Year Ending 30-06-08 91.5 14.4 11.0% 

P/E's all higher than average even at $13.


Not to mention mkt valuing ben at over 21 times earnings..thats very rich for a bank (banking sector 13x p/es).


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## Julia (19 March 2007)

I've held BEN for several years and recently doubled my holding, so I'm pretty happy today.

Julia


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## nomore4s (19 March 2007)

Halba said:
			
		

> Bit surprising this rise. $17.50 is a bit rich for BEN.
> 
> EPS(c) PE Growth
> Year Ending 30-06-07 82.4 16.0 14.5%
> ...




Halba refer the ann, merger values BEN at 17.18 - 17.92 (or something like that) depending on BOQ price.


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## CanOz (19 March 2007)

Julia said:
			
		

> I've held BEN for several years and recently doubled my holding, so I'm pretty happy today.
> 
> Julia




Well done Julia, a class act this bank. I hope they can still provide the quality service after a takeover. I never did any business with them, but always admired thier story.

Cheers,


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## YELNATS (19 March 2007)

nomore4s said:
			
		

> Halba refer the ann, merger values BEN at 17.18 - 17.92 (or something like that) depending on BOQ price.




That's right, today's market price of BEN is based on BOQ's valuation of BEN, as per the terms of the offer. Obviously BOQ can see an enhanced value of BEN because of and after the merger. I'm pleased, I hold both BOQ & BEN, but mainly BEN. regards YN


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## vishalt (19 March 2007)

grats to Bendigo shareholders!


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## Halba (19 March 2007)

I hold ADB and extremely puzzled.

BEN now $2.35 billion dollar market cap

Net profit 2006 - $100M

ADB mkt cap $1.45bn

Net profit 2006 - $95M

BEN 62% higher valuation than ADB, but only 5.2% higher profit than ADB???????????

Where does the other 57% come from air???

Sometimes these mergers/acquisitions artificially inflate the real value of the company..its a BUBBLE imho.


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## mmmmining (19 March 2007)

Halba,

Don't worry, your ADB will be taken by XXX in year 200X.  By then, I guess you will be   why PE of the SUN, ANZ, WBC, ... is much lower than ADB.


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## sleeper88 (19 March 2007)

It's great news for BEN shareholders


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## YELNATS (19 March 2007)

Halba said:
			
		

> I hold ADB and extremely puzzled.
> 
> BEN now $2.35 billion dollar market cap
> 
> ...




On the strength of the numbers you may be right, but I guess it's all to do with the way they do their business, community banking etc., and the perceived synergies between the two businesses, BOQ & BEN. Anyway, BEN holders are not going to look a gift horse in the mouth.


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## Halba (19 March 2007)

mmmining said:
			
		

> I guess you will be  why PE of the SUN, ANZ, WBC, ... is much lower than ADB.




Yep I hold a few of the above too! Funny thing this mkt!


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## mmmmining (28 March 2007)

Just wondering what is going on with the $1+ between hype price of BEN and reality. 

Someone expecting a bad results from BOQ? I doubt it. 

But I see something I don't understand.


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## Kieran (22 April 2007)

I have a funny feeling that Bendigo will advise shareholders not to accept the offer from BOQ - when this happens the shares will take a tumble and it'll be time to buy in again


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## Kieran (23 April 2007)

I cant believe no one has posted yet of the trading halt requested by BEN this afternoon?

23/04/2007  
Trading in Bendigo Bank (BEN) shares was halted this afternoon at the request of the Bank.

The trading halt was obtained pending the making of an announcement to the market regarding the conditional merger proposal put to Bendigo Bank by Bank of Queensland Limited.

Bendigo Bank News Page


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## Julia (24 April 2007)

Bendigo Bank has rejected the BOQ offer.
BEN down 90c.


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## Kieran (24 April 2007)

Still expensive IMO, considering it was $13-$14 before the merger announcement.


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## Julia (25 April 2007)

My interpretation of BEN's letter to shareholders yesterday was not that they were looking for a higher offer from BOQ, but rather that they simply prefer the concept of going it alone.  If that's the case, I guess there's a risk that the SP could revert to what it was prior to the BOQ offer.  
I've sold yesterday rather than risk some of the profit.


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## Kieran (25 April 2007)

I have to agree Julia. 

"Given the excellent prospects for Bendigo Bank on a stand-alone basis,"
"The proposal involves significant risks including integrating organisations with different business models and philosophies."

That says to me that they have given BOQ the big finger, not that that they're hanging out for a better offer (from BOQ or otherwise). I'm very surprised the share price is still sitting at $17 (down from $18 on the eve of the rejection announcement).

Personally I'm waiting for it to drop back to pre-BOQ Announcement prices so I can finally buy in. I would've bought before the announcement but the Westpac trading account took longer than I thought to setup


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## YELNATS (25 April 2007)

Kieran said:


> I have to agree Julia.
> 
> Personally I'm waiting for it to drop back to pre-BOQ Announcement prices so I can finally buy in. I would've bought before the announcement but the Westpac trading account took longer than I thought to setup





So what's your motivation for wanting to buy in (at a lower price)? Is it because you expect the price to eventually get back to $18 and above, in which case maybe the current price of $17 after rejection of the BOQ offer isn't too bad a reflection of BEN's future prospects and value? 
Regards YN.


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## Julia (26 April 2007)

Kieran said:


> I have a funny feeling that Bendigo will advise shareholders not to accept the offer from BOQ - when this happens the shares will take a tumble and it'll be time to buy in again




Yes, down another 28c already today.

However, I'm curious about why you would want to "buy in again".
Looking at the one year chart the SP has virtually done nothing until the merger offer occurred.


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## Kieran (26 April 2007)

Julia, TBH I've only just started the sharemarket game. My parents have had Bendigo shares for a long long time and over that time they've increased in value nicely. While the performance of them over 1 year isn't anything special, over the long term they've risen in value nicely.

That said, so have most shares


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## Julia (26 April 2007)

Kieran said:


> Julia, TBH I've only just started the sharemarket game. My parents have had Bendigo shares for a long long time and over that time they've increased in value nicely. While the performance of them over 1 year isn't anything special, over the long term they've risen in value nicely.
> 
> That said, so have most shares




The comment that your parents have had BEN for a long time is a defining characteristic about BEN's shareholders.  I think it has something to do with the "community bank" philosophy which in the minds of many people makes BEN somehow "nicer" than the big banks, maybe not so much out to fleece people with fees and charges, but rather to make a contribution to the community.  

That's fine but there are much more rewarding stocks out there with more growth and/or higher yield.  If you had held BEN over the last three years, growth averages only about 6% p.a., and that's including the spike from the BOQ offer.  From memory the yield is under 4%.


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## YELNATS (17 May 2007)

Julia said:


> ... but there are much more rewarding stocks out there with more growth and/or higher yield.  If you had held BEN over the last three years, growth averages only about 6% p.a., and that's including the spike from the BOQ offer.  From memory the yield is under 4%.




Hi, Bendigo Bank has done pretty well since rejecting BOQ's offer. Up another 30c today to $16.56. I've held BEN since August 2001 when I bought my first of a number of parcels at $5.89. Actually I'm up 143% over the period including DRP dividends, but not including franking credits. 

That's not such a shabby performance is it?  regards. YN


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## Trader Paul (30 September 2007)

Hi folks,

BEN ... should be BOOMING over the next week or so, 
from 05-12102007 and especially on 09102007 ...  next
negative cycle, due on 25-26102007 ... 

happy days

 paul



-----


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## vishalt (1 October 2007)

Yeah I agree trader_paul, BEN's pretty oversold and its a good business. 

I'm targetting MFS too, the fianncials & banks are starting to get some attention in this run.


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## theasxgorilla (1 October 2007)

Julia said:


> My interpretation of BEN's letter to shareholders yesterday was not that they were looking for a higher offer from BOQ, but rather that they simply prefer the concept of going it alone.  If that's the case, I guess there's a risk that the SP could revert to what it was prior to the BOQ offer.
> I've sold yesterday rather than risk some of the profit.




Congratulations Julia on what has turned out to be insightful anticipation and a very profitable decision.  Scratch up a win for good fundamental analysis .


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## DionM (20 November 2007)

Up 6.8% today against a backdrop of general market downturn (esp banks), and high volume.  Only news is the lodgement with Feds for ADB merger which was a given.

Must be some info around that no-one else knows?


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## YELNATS (21 November 2007)

DionM said:


> Up 6.8% today against a backdrop of general market downturn (esp banks), and high volume.  Only news is the lodgement with Feds for ADB merger which was a given.
> 
> Must be some info around that no-one else knows?





BEN up again today for a total gain of 12.7% over last 2 days. 

No other news posted except the Federal Court's approval of the merger with ADB, although BEN's Nov 16 ann indicated that ADB was merging with BBL (Brisbane Broncos? )

On a serious note, maybe there's some more good news in the wind ???


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## DionM (21 November 2007)

Quite a bit of accumulation going on too.

Perhaps they may be a takeover target, the potential buyer was simply waiting until ADB was approved and a done deal?

Who knows.


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## YELNATS (22 November 2007)

DionM said:


> Quite a bit of accumulation going on too.
> 
> Perhaps they may be a takeover target, the potential buyer was simply waiting until ADB was approved and a done deal?
> 
> Who knows.




If so, could it be that BOQ would have another nibble at them? Maybe it was all prearranged between BEN and BOQ, that BEN would take ADB first?


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## DionM (22 November 2007)

YELNATS said:


> If so, could it be that BOQ would have another nibble at them? Maybe it was all prearranged between BEN and BOQ, that BEN would take ADB first?




Could also be SUN, they have very little exposure in VIC and SA (1 branch per state).  In a recent presentation they said they were targetting WA only (they also only have 1 branch there); but that's just what they _said_. 

Would help them too with their insurance side of things, having more branches in there (since they have GIO for national insurance).  

Could explain a bit SUN's recent SP lows as well.

But I think SUN would be too busy with Promina related stuff?  

Anyway, it's all just my own musings.


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## YELNATS (22 November 2007)

DionM said:


> Could also be SUN, they have very little exposure in VIC and SA (1 branch per state).  In a recent presentation they said they were targetting WA only (they also only have 1 branch there); but that's just what they _said_.
> 
> Would help them too with their insurance side of things, having more branches in there (since they have GIO for national insurance).
> 
> ...




As a former holder of PMN, and therefore as result, now a holder of SUN, I personally hope it's not SUN that would be after BEN. 

SUN's sp hasn't performed too well since the PMN merger. It's a pity because PMN was such a winning stock too.

Also, I would think that Aussie Post does a fair job of representing GIO insurance nationwide, at a low cost too, but that's just my opinion.


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## YELNATS (30 November 2007)

About 1.5 million BEN shares were traded after 4 pm closing today at about $17.30, which was around 90c better than the 4 pm closing price.

I had a sell order filled then at considerably better than my asking price, so I'm not complaining.

Looks like something is up with BEN also considering the fact that price has risen by about 29% in the last 2 weeks (based on the closing price Nov 16 to Nov 30).

Any comments anyone?


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## So_Cynical (18 February 2008)

Anyone want to have a guess at the bottom for BEN?

Anyone know if they have sub Prime exposure?

Julia...is it time to get back in?


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## Happy (18 February 2008)

> From ABC, 15 Feb. 08
> BENDIGO BANK ANNOUNCES $707M PROFIT
> 
> Bendigo Bank says strong loan growth has helped boost the company's first-half profit to $707 million.
> ...




I know, no institution with aim to profit should be a charity, but this announcement struck me because Bendigo Bank was heralded as people bank.

Unless profit was achieved from loans to big institutions, which I doubt.


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## Gigabyte (3 March 2008)

With such a large profit 707M I'd like to ask now, what's happening to the share price.

Looking at the charts its been on a slow downward trend since December 07. 

I know the market is being extremely volatile but why isn't the company sustaining its share price.

Does anyone have any idea whats going on?????

Cheers
Gigabyte


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## vishalt (3 March 2008)

Gigabyte said:


> Looking at the charts its been on a slow downward trend since December 07.
> 
> I know the market is being extremely volatile but why isn't the company sustaining its share price.
> Cheers
> Gigabyte



Has any company no matter what they earn been sustaining their share price?

BHP with its trillion billion hasnt even, neither has CommBank


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## shinobi346 (3 March 2008)

A couple of reasons for this, gigabyte, just looking at the company and not the market in general:

they recently went ex dividend

and they will be distributing more shares soon

some of which will be bonus shares aka freebies


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## Prospector (25 March 2008)

A 20% recovery today, way more than other financial shares.  Does anyone have an explanation for the surge?


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## YELNATS (17 April 2008)

Under BEN's current share purchase plan existing holders can purchase up to 300 shares at $9.60 each.

Seems an attractive deal considering today's closing price of $11.74 with an intraday high of $12.05.

Good opportunity to pick up a cool $600-700 without too much effort.

Need to act quickly as offer closes on Monday April 21. New shares should be allotted on/about May 6.


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## YELNATS (2 May 2008)

BEN's share price up today to $12.87. Not a bad return for their share purchase plan (34% and no brokerage).

Sold some today to take advantage of the gain.


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## shinobi346 (5 May 2008)

Anyone have their new shares turn up yet? Eager to know if I made it in or not.


The share is at a sweet price nice considering how much those in the SPP cost.


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## shinobi346 (10 May 2008)

My broker called to tell me my shares  came through today. It took a while because they had to check when exactly the money was transfered. He said mine was one of the last to be allocated so if you haven't got yours by now I would be asking questions.


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## benn (2 December 2008)

Hi could some one please advise what the closing share price of adelaide bank and bendigo bank were on scheme implementation date 30th Nov 2007


thanks very much


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## hobo-jo (8 January 2009)

I found it interesting that BEN dropped on the announcement of buying Macquaries $1.5b margin lending portfolio for $52m...I Would think that would be considered bargain basement buying...market didn't see it that way?


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## prawn_86 (8 January 2009)

hobo-jo said:


> I found it interesting that BEN dropped on the announcement of buying Macquaries $1.5b margin lending portfolio for $52m...I Would think that would be considered bargain basement buying...market didn't see it that way?




The way i read it is that the total value of loans was 1.5b, meaning total including the margin % (the amount contributed by the bank), so it means they now have that 'liability' as such

Does that make sense


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## hobo-jo (8 January 2009)

prawn_86 said:


> The way i read it is that the total value of loans was 1.5b, meaning total including the margin % (the amount contributed by the bank), so it means they now have that 'liability' as such
> Does that make sense




Yeah I understand it is a loan portfolio they are buying, but in the banking world a loan is an asset to a bank.

By my calculations if those with the margin loans are paying 3% interest, over 12 months that is $45 million, not far off the purchase price...it would seem at face value (although I imagine it is probably much more complex) that the cost of the purchase would be returned within 12-18 months...


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## bluecheese101 (21 February 2009)

BEN's share price is deteriorating despite the upcoming ex-div date in a few days. Anyone have any ideas on why this is so?


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## hobo-jo (21 February 2009)

The drop doesn't seem justified. There was rumour Bendigo was going to raise an additional $100m from shareholders on the same day as the profit announcement, but I don't believe that rumour turned into fact (yet?). I don't understand what has spooked people.


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## hardcoremike (24 February 2009)

from a tech pov. BEN was in a trending range between $9 and $14 since feb 08. the news release came out as $9 was being tested which I think further accelerated the SP weakness.


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## Kremmen (1 July 2009)

The big banks have recovered quite a bit of their lost value over the past year, while Bendigo was still at $6.10 a few days ago, not much above its lowest point for the last 9 years. In the last couple of days, it's shot up, closing $6.95 today.


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## GumbyLearner (28 July 2009)

Got into these guys last week.

Looking great value at present.

The majority of their cash is deposits in local branches. Unlike the majors they are looking into agriculture/regions and the future. Nice!


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## oldblue (29 July 2009)

Loans to Great Southern investors, courtesy of the merger with Adelaide Bank, are a bit of a drag on BEN at present.

http://www.theaustralian.news.com.au/business/story/0,28124,25849603-36418,00.html


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## GumbyLearner (3 August 2009)

I'm looking forward to another great month for BEN. Excellent announcement from the 60% stake in ELD Rural Bank operation last week. Should be another great month coming!


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## oldblue (4 August 2009)

Great Southern problems weighing on BEN.

http://www.theaustralian.news.com.au/business/story/0,28124,25879821-643,00.html


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## oldblue (10 August 2009)

Not great news.

A 57% drop in profits and a capital raising.

http://www.theaustralian.news.com.au/business/story/0,28124,25907601-20501,00.html


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## qldfrog (11 August 2009)

Well with capital raising at $6.75 a share maybe good opportunity to acquire at bargain price?
I have a few BEN and will increase my number of shares:
BEN imho is a safe bet either will be bought back or will carry along away from what I expect might be big write off from the big 4 banks
my un educated opinion only...


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## oldblue (11 August 2009)

I'm not sure who would buy out BEN. The majors have been told to leave the regional banks alone, unless they get into serious trouble that is, when I guess it would be approved!
So that leaves the likes of Bank of Q or SUN. Possible, but neither of them are in a strong position at present.

BEN's bad debt charge was up almost 400%, indicating that they're not immune to the problems of the big four. At the same time, they don't have the credit ratings and funding advantages of the majors. I prefer the latter whose SP's have shown good gains recently.


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## ricee007 (15 September 2009)

oldblue said:


> I'm not sure who would buy out BEN. The majors have been told to leave the regional banks alone, unless they get into serious trouble that is, when I guess it would be approved!
> So that leaves the likes of Bank of Q or SUN. Possible, but neither of them are in a strong position at present.
> 
> BEN's bad debt charge was up almost 400%, indicating that they're not immune to the problems of the big four. At the same time, they don't have the credit ratings and funding advantages of the majors. I prefer the latter whose SP's have shown good gains recently.



Orrrrrrrrrrr, POSSIBLY, the Majors have shown the former will possibly shortly show gains? (Or, there is a reason that BEN hasn't!).

I'm considering BEN in a week or two once I believe the SPP has been sold, if I see upwards pressure on the SP.


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## Anthony Hosemans (22 September 2009)

I took up my entitlment recently and didn't think I would get any extra if I applied for any additional. All shareholders who applied for additional shares are getting the first 1000 shares they applied for at the issue price. I,m kicking myself as I missed out on the opportunity to make some easy money, because of my short sightedness.  Kooka.


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## LeftRightOut (29 September 2009)

So how does one explain the action in the past few days? Technical break out only? It certainly had nice technical signals screaming off the chart (triangle formed perfectly, also forming up on 200DMA support, 50DMA crossing 200DMA)

Any fundamental reasons anyone has. I don't own any, but have been watching ot for a little while.


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## shinobi346 (17 August 2010)

I thought this was going to be a stinker this time around due to the banker taking off with a few cool million but their nice profit in other areas has seen it through.


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## tayser (14 May 2011)

Been reading the following article in the Age today: http://www.theage.com.au/business/franchise-bank-model-turns-sour-20110513-1em6w.html

Regardless of the content - I was just thinking, as these branches are listed on the BSX - does that mean anyone can just buy into a branch?

For instance, I'm not living in Kew East, but they're listed: http://www.bsx.com.au/markets_pricesresearch_tra.asp?security=56

A single investor could theoretically buy a whole branch?!?


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## JTLP (14 May 2011)

tayser said:


> Been reading the following article in the Age today: http://www.theage.com.au/business/franchise-bank-model-turns-sour-20110513-1em6w.html
> 
> Regardless of the content - I was just thinking, as these branches are listed on the BSX - does that mean anyone can just buy into a branch?
> 
> ...




No - when you open your site link it states you can buy up to 10%. Why would you want to anyway after reading that article...yuck.


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## xyzedarteerf (10 August 2011)

missed out of topping up yesterday...7.55. Closed at 8.07 still good value watching this today.


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## chops_a_must (10 March 2013)

I'm by no means an EW expert, but looking for potential breakouts, this looks good on the 12 month chart.

A clear 1, 2, 3 wave pattern with consolidation happening in w4.

Would like to see this build sideways into a nice pennant.

Cheers.


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## chops_a_must (22 March 2013)

In on Wednesday on confirmation of a pennant. Maybe a little early, but it looks good to me.

Sitting on long term resistance, which has now proven to be support. Volume is building, and not too much resistance on the longer term until about $12- 12.50. Which roughly 
	

		
			
		

		
	



	

		
			
		

		
	
lines up with the price target from W1.


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## chops_a_must (2 May 2013)

As expected, this has broken out, and is continuing to show strength, even on down days.

Still on a low p/e, high yield, so in the environment, it looks good.


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## jjbinks (7 July 2013)

it does seem like good value for a fairly safe company.

but why is it s undervalued?

is it due to competition from big banks. (big banks have relatively lower cost?)


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## Knobby22 (8 July 2013)

It has trouble growing as fast as the big banks due to its size and its Adelaide Bank component has some less quality loans that could go bad if the economy collapses. So Bendigo Bank is riskier.


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## Garpal Gumnut (30 November 2013)

Quite an increase in volume in BEN this calendar year.

BEN could surprise on the upside.






gg


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## ricee007 (30 November 2013)

Just hit a long-term high... seems to have trouble breaking through $11, but it did just reach 11.43 (now 11.26), so that is a reasonable way past $11..... wonder if this time is the real deal?

I watched BEN for a while, but in the end decided against it..... which is a shame. Would have got in at around $8... could have got a cheeky 40% profit + good dividend yield in a reasonably short period of time.

If it gets to $10.50, I might have to buy in... but i wouldnt be surprised if it stayed above 10.9


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## Garpal Gumnut (30 November 2013)

Garpal Gumnut said:


> Quite an increase in volume in BEN this calendar year.
> 
> BEN could surprise on the upside.
> 
> ...






ricee007 said:


> Just hit a long-term high... seems to have trouble breaking through $11, but it did just reach 11.43 (now 11.26), so that is a reasonable way past $11..... wonder if this time is the real deal?
> 
> I watched BEN for a while, but in the end decided against it..... which is a shame. Would have got in at around $8... could have got a cheeky 40% profit + good dividend yield in a reasonably short period of time.
> 
> If it gets to $10.50, I might have to buy in... but i wouldnt be surprised if it stayed above 10.9




Why did you decide against it.

Was it on fundamental reasoning or the chart at the time?

gg


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## ricee007 (30 November 2013)

MQG and ANZ made up >50% of my portfolio... so didn't need to add another bank... loved ANZ and liked MQG...

Since sold out of MQG, but will be keeping ANZ for a long while yet.... but, that means I only have one financial services equity... so there is room for BEN


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## peter2 (22 March 2015)

Poor old BEN. Its lagging the other banks by a long way. The others have all broken out to new highs as seen by the XFJ line chart. 

I see a low sized risk setup at a past level of resistance. I would have preferred to have seen the price bounce off 13.00 rather fall through it. This is NOT one for the momentum traders. They should have bought the ones that have already broken out. 

If I was a FA person, I'd have to ask if the mgt know what they are doing.


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## MrBurns (18 August 2015)

I put a fair bit into this mob a week or 2 before the correction.
I was told they would benefit from the capital raising because they weren't effected like the big banks but they keep declining, I'm down $5k already


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## MrBurns (12 February 2016)

MrBurns said:


> I put a fair bit into this mob a week or 2 before the correction.
> I was told they would benefit from the capital raising because they weren't effected like the big banks but they keep declining, I'm down $5k already




30% down, is this a bank or an oil producer ?


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## sinner (12 February 2016)

MrBurns said:


> 30% down, is this a bank or an oil producer ?




Considering that within the last decade BEN has previously suffered a peak-trough 66% decline from $18 to $6 and another 35% decline from $10.45 to $6.80, what precisely made you think that banks, especially BEN, would be impervious to 30% declines?


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## Knobby22 (12 February 2016)

I'm feeling pretty silly, bought yesterday and already down.
I will wait till the results come out before making a decision.

It should be pointed out though that the yield is about 7% and some growth is expected.
Unless the Australian economy is about to go over a cliff, BEN shares look very cheap.
We shall know Monday. You might as well hold on till then Mr Burns.


----------



## MrBurns (12 February 2016)

sinner said:


> Considering that within the last decade BEN has previously suffered a peak-trough 66% decline from $18 to $6 and another 35% decline from $10.45 to $6.80, what precisely made you think that banks, especially BEN, would be impervious to 30% declines?




I heard at the time that smaller banks would prosper as they wouldn't be as effected by the cash reserve requirements...no point selling now, just hang in there.

As usual research is not my strong point, I'm more of a "roll the dice" investor and have the tax losses to prove it.


----------



## sinner (12 February 2016)

MrBurns said:


> I
> I was told ...






MrBurns said:


> I heard...




I wonder where the person or people you were listening to previously are now and what they are saying? Why not ask them whether BEN is a bank or oil stock?


----------



## MrBurns (12 February 2016)

MrBurns said:


> I heard at the time that smaller banks would prosper as they wouldn't be as effected by the cash reserve requirements...no point selling now, just hang in there.
> 
> As usual research is not my strong point, I'm more of a "roll the dice" investor and have the tax losses to prove it.




Also bought SDL, worthless now thank goodness I didn't put much in.


----------



## Knobby22 (12 February 2016)

I note that Glenn Stevens today stated that the only way interest rates are going is down and also this latest fall is overblown.
A change in sentiment could see some very large rises of companies with good yields.
Its probably smart to look at companies that provide good yield and some growth but mainly income not too reliant on the economy. 

I don't own any banks except this one as they are riskier in bad times but its getting a bit crazy at present and it gets to the point where you have to start buying a few things. 

I have seen the market turn quickly before and its annoying to miss the boat. on the other hand I still have 2/3rds in cash.


----------



## notting (15 February 2016)

> “The low interest rate environment also impacted growth as many customers chose to reduce debt.
> About 43 per cent of the Bank’s customers are ahead in their loan repayments, while mortgage
> offset accounts grew by 12 percent over the period.




I wonder what the percentage of people being ahead on their loans normally is.  I suspect not so dramatically different?


Sometimes it's easier to win as a light weight -



> “Funding is a particular strength, with about 81 percent of funding now provided by retail customers.
> As the wholesale markets move through a period of volatility and higher prices, our funding profile provides some insulation from those issues.


----------



## Knobby22 (15 February 2016)

The markets not happy. Not sure why.


----------



## notting (15 February 2016)

Knobby22 said:


> The markets not happy. Not sure why.




The size of this is most important. It's where the profit is made. It reprosents the difference between what the bank pays for money it lends and what it gets back from the customer.  
It was a tad soft.




But on that you'd think all the banks should have been soft today.

I'm thinking higher competition especially from ANZ and NAB trying to get back into focusing on the Ausi retail Mortgage business after shrinking off shore experiences.  Hardly too much of an issue given relative cost of borrowing for the others is tighter as they depend more on Big internationals to get their money to lend where credit is a tightening with the nervousness around European bank exposure to China and oil.


----------



## Knobby22 (15 February 2016)

Thanks Notting 

Also margins have since risen due to the recent "rate rise" the banks gave themselves.


----------



## skc (15 February 2016)

Knobby22 said:


> The markets not happy. Not sure why.




According to Macquarie, BEN derives a lot of it's income from the revaluation of an entity called "Homesafe" which is essentially a residential property portfolio.

Here's a snippet of what they said.



> While at headline level BEN delivered a solid pre-provision result (~1.8% ahead of our expectations), we note that it was largely underpinned by contribution from HomeSafe ($54.5m in 1H16). We believe there is limited further upside to property prices in 2016, as such see a ~$40m headwind to BEN’s revenue in 2H16. Excluding the HomeSafe contribution, BEN’s pre-provision result was ~8% below our expectations.




It's comparable to me quoting my income as my wage plus the increase in my home value. 

I am not sure the history behind HomeSafe and what is the end game, but that part of the earning is not sustainable or recurring. So the market is perhaps rightly marking it down.


----------



## qldfrog (16 February 2016)

Interesting, Thanks for the info skc, was nearly tempted to jump in, but not under these condition as i have a more pessimistic view than MAQ on RE


----------



## Knobby22 (16 February 2016)

skc said:


> According to Macquarie, BEN derives a lot of it's income from the revaluation of an entity called "Homesafe" which is essentially a residential property portfolio.
> 
> It's comparable to me quoting my income as my wage plus the increase in my home value.
> 
> I am not sure the history behind HomeSafe and what is the end game, but that part of the earning is not sustainable or recurring. So the market is perhaps rightly marking it down.




I think HomeSafe is a clever way to get market share. There are protections inherent.
HomeSafe works as follows:

“Bendigo Homesafe is not a loan – it is a deferred sale of an agreed proportion of the home,” Mr Davies said.

“It provides the customer with the peace of mind that they will always retain their percentage of the value of their home, no matter what happens.”

Homesafe has won support from the Victorian and NSW state governments, which have provided stamp duty exemption for the initial transaction needed to release equity in the home. 

It works like this:
A homeowner sells a percentage of the future sale proceeds of their home (to a maximum of 50 per cent) in return for an immediate lump sum cash payment.
The customer continues to live in the home until they die or decide to sell the property. They make no payments, pay no rent and have control over the property.
On the sale of the property, the customer or their estate pays Homesafe its fixed percentage of sale proceeds and retains the balance. 

“In other words, if you sold 30 per cent of your home to Homesafe, then you retain 70 per cent ownership no matter when the home is sold,” Mr Davies said.

“Homesafe is a totally new approach to a very serious social problem – the enforced poverty of elderly people who are on a pension but who own a valuable asset that cannot be realised.”


----------



## sinner (16 February 2016)

What's with the magical post above from Garpal Gumnut, dated 2013 but has a chart from Jan 2016?


----------



## Joe Blow (16 February 2016)

sinner said:


> What's with the magical post above from Garpal Gumnut, dated 2013 but has a chart from Jan 2016?




The chart in Garpal Gumnut's post is hotlinked directly from BigCharts rather than being attached to the post, so the data displayed is current.


----------



## sinner (16 February 2016)

Joe Blow said:


> The chart in Garpal Gumnut's post is hotlinked directly from BigCharts rather than being attached to the post, so the data displayed is current.




Thankyou sir


----------



## sinner (16 February 2016)

Knobby22 said:


> A homeowner sells a percentage of the future sale proceeds of their home (to a maximum of 50 per cent) in return for an immediate lump sum cash payment.




Say I sell 50% of equity in my home. How large is the lump sum cash payment? I'm assuming it's not for the full equity at current home values?

Correct me if I'm wrong but what you're describing sounds like BEN is long on a sort of futures contract for a host of non-liquid assets without a specified delivery date.


----------



## McLovin (16 February 2016)

sinner said:


> Say I sell 50% of equity in my home. How large is the lump sum cash payment? I'm assuming it's not for the full equity at current home values?
> 
> Correct me if I'm wrong but what you're describing sounds like BEN is long on a sort of futures contract for a host of non-liquid assets without a specified delivery date.




I imagine they'd be using actuarial tables to work out when sinner is likely to fall off his perch, and from that they determine how much they'll give you now for half your equity. It's doesn't seem like much more than a reverse mortgage.


----------



## Ves (16 February 2016)

sinner said:


> Correct me if I'm wrong but what you're describing sounds like BEN is long on a sort of futures contract for a host of non-liquid assets without a specified delivery date.



Yep,  that's my understanding of it too.

Which is why a revaluation entry is included each period on the profit & loss statement. There's also an asset on the balance sheet recording their estimate of the proceeds they'll receive at the time of sale (which moves with the market values of the underlying property).  So far, so good because the property market has been appreciating.

Besides a few fees here and there,  they don't receive any cash from the customer until the property is sold or the person dies.  There is no interest income and the customer cannot default or go into negative equity like a reverse mortgage (although there are regulations in Australia which probably stop that happening any way).

They do,  as McLovin mentioned use an actuary.  It's actually a joint-venture with a high-profile actuary by the sounds of it (Peter Szabo,  who seems to have came up with the idea in the first place).

I believe they do build a bit of a buffer into the calculations to cover some of the downside.   But surely,  if the property market blows up they're exposed if it's still low when the time comes for these properties under the scheme are sold.

They are effectively giving the customer cash now,  in exchange for the chance of getting more cash later when the property is sold.

Seems like the maximum is 50% for a lump sum payment. There's of course a whizz bang formula which decides what this 50% is based on.

Income from a bank's perspective on a reverse mortgage is based on interest income received (usually at a later date because it is also capitalised until the house is sold or the person dies).  It's probably a similar result if the market is far lower at the time the loan needs to be repaid,  but I assume with a reverse mortgage the bank has recourse to any other assets of the person,  and Homesafe doesn't.


----------



## Knobby22 (16 February 2016)

They don't pay full value for the asset due to the time constraint.
I note that if the person dies or sells within a short time frame their family gets a bonus.


----------



## McLovin (16 February 2016)

Ves said:


> Yep,  that's my understanding of it too.
> 
> Which is why a revaluation entry is included each period on the profit & loss statement. There's also an asset on the balance sheet recording their estimate of the proceeds they'll receive at the time of sale (which moves with the market values of the underlying property).  So far, so good because the property market has been appreciating.
> 
> ...




Interesting. I'm surprised they have no recourse to the house beyond the amount of equity they have agreed to. That's a pretty big matzah ball to have on the balance sheet. It is much closer to what Sinner described than my first lazy look suggested. I actually though initially the maximum 50% number was so that they had some buffer built in.


----------



## Ves (16 February 2016)

McLovin said:


> Interesting. I'm surprised they have no recourse to the house beyond the amount of equity they have agreed to.



I don't think they have 'recourse' to anything.   They've effectively paid cash for a fixed share of the future proceeds.  If the future proceeds are lower than expected they have to wear the difference.

My understanding,  and knobby22 also mentioned this above,  is that they do build in a buffer at the time of buying the share. Not sure how big the buffer is. This is because of the uncertainty of the sale timing and also because they have no effective control over the asset (the homeowner can do as they please basically,  besides destroying it).


----------



## Monkey C Doo (18 February 2016)

McLovin said:


> Interesting. I'm surprised they have no recourse to the house beyond the amount of equity they have agreed to. That's a pretty big matzah ball to have on the balance sheet. It is much closer to what Sinner described than my first lazy look suggested. I actually though initially the maximum 50% number was so that they had some buffer built in.





Surely they'd package all these deals and on sell them as a "Bond" type thing? 

If so - is Bendigo exposed to a property slump or sitting pretty?


----------



## sinner (18 February 2016)

Ves said:


> They've effectively paid cash for a fixed share of the future proceeds.




It's still not clear to me how much the approx lump sum might be as a % of the total they are entitled to, so I thought I would check out the website and spotted this which made me laugh...





An appropriate title might be "I like big buts..."

Apparently they are convinced it is such a sure fire bet that you can get anything from $25,000 to $1,000,000 as the lump sum...


----------



## skc (18 February 2016)

sinner said:


> It's still not clear to me how much the approx lump sum might be as a % of the total they are entitled to, so I thought I would check out the website and spotted this which made me laugh...




Lol at the quote... that's an article from the Fin Review and they copied it word for word, and highlighting the best line first.

And really did they read the content? It talks about how much money Homesafe made for BEN. More profit for BEN = worse deal for the Homesafe participant (is that the right word?).

To me this is really no different to BEN buying partial shares in a bunch of residential properties, but with little control in terms of upkeep and sale. Admittedly they think they are buying at a discount... but the proof really won't come for another 15-20 years when the contracts reach the exit phase.


----------



## MrBurns (2 March 2016)

Has anyone else bought a bank and seen it fall 30% after they bought ?


----------



## UMike (2 March 2016)

MrBurns said:


> Has anyone else bought a bank and seen it fall 30% after they bought ?



ANZ is about 50% down. From it's top


----------



## MrBurns (2 March 2016)

UMike said:


> ANZ is about 50% down. From it's top




Ok I feel a bit better


----------



## poverty (2 March 2016)

MrBurns said:


> Has anyone else bought a bank and seen it fall 30% after they bought ?




Did you open an account there before you bought?  It's like banking transported back to 1999.


----------



## MrBurns (2 March 2016)

poverty said:


> Did you open an account there before you bought?  It's like banking transported back to 1999.




No, I thought they would benefit from the statutory cash reserve ratio, but no.


----------



## Knobby22 (3 March 2016)

Hold on Mr Burns. It's turning. 
I am sure its oversold. I need another 70c rise to break even. Mucked it up a bit.


----------



## MrBurns (3 March 2016)

Knobby22 said:


> Hold on Mr Burns. It's turning.
> I am sure its oversold. I need another 70c rise to break even. Mucked it up a bit.




Yes I'm enthused except I need another $4 to get near even


----------



## Knobby22 (4 March 2016)

ANZ is getting sued for rate fixing. if they lose you can be sure the other big 3 will be targeted. Bendigo is right out of that.

Also, BENs loans to mining are tiny as a percentage of loans, just a couple of mil. 

They didn't lose on Dick Smith like some of the big banks (I think it was NAB and CBA from memory).

I have no problems with Homesafe. Does anyone really think the housing market will crash to the extent that it will hurt the bank?  ...and even if it did, at least they aren't chasing delinquent loans because they don't exist under this model.The other banks will have to.

At these prices the yield is 7.7%!

They did raise the dividend unlike the big banks.

Finally as you stated they benefit from the statutory cash reserve ratio.

The market is acting irrationally. The shares have to be worth $10.90 as a minimum imo.
That said the buying will be partly by short termers seeking the dividend so don't be surprised with a big drop when it goes ex.


----------



## MrBurns (4 March 2016)

Knobby22 said:


> The market is acting irrationally.




Absolutely, totally unpredictable.


----------



## poverty (5 March 2016)

Went to enter a BB branch at 2pm on Friday.  Woman blocked the doorway, "NO ACTUALLY WE'RE CLOSED!".  I wandered off perplexed with an elderly couple who were also given the hand.  I asked them why they were closed and apparently they were having computer problems.  God what a retarded bank BB are.  Along with their internet banking that hasn't changed since 1999 they can stick their entire bank up their ****.


----------



## Knobby22 (6 March 2016)

poverty said:


> Went to enter a BB branch at 2pm on Friday.  Woman blocked the doorway, "NO ACTUALLY WE'RE CLOSED!".  I wandered off perplexed with an elderly couple who were also given the hand.  I asked them why they were closed and apparently they were having computer problems.  God what a retarded bank BB are.  Along with their internet banking that hasn't changed since 1999 they can stick their entire bank up their ****.



I am with CUA and CBA and let me tell you CUA give me better rates and are better to deal with. CBA tried to con me then offered to match CUA. I mention this because of the banks BEN has the highest satisfaction level. We know why. Read the front page of Saturdays Age and see what CBA they did to the people foolish enough to get their health insurance with them.

Bendigo Bank like CUA have good relations and arent always going to court. Both organisations havr  updated their IT (though I am relying on press releases for Ben) and as it is getting commodified are keeping up with the banks for not much more cost.

Finally note all the directors buying and the points made on my previous post

I am confident, watch what happens.


----------



## Knobby22 (6 March 2016)

Poverty
With the internet banking, isn't it updated?
Also it doesn't sound like a computer problem. I think an incident must have happened within the bank.


----------



## Knobby22 (25 July 2016)

Been underwater but finally on top.
Bendigo Bank will look good when the next report comes out compared to the big 4 with a better yield also. I am fairly confident we shall see earnings growth. If I am wrong then it is a sell.


----------



## Knobby22 (8 August 2016)

OK result as expected. I was hoping they would increase interest margin more but obviously competition is strong.
Still a lot better than the naysayers were expecting.
Nice rise today.


----------



## orr (9 August 2016)

Knobby22 said:


> OK result as expected. I was hoping they would increase interest margin more but obviously competition is strong.
> Still a lot better than the naysayers were expecting.
> Nice rise today.




Bit up and down like a haws draws... I'm out today on the off chance that i'll buy back under the high 9.90's,  or there abouts in the not to far distant... but I've been rong before. There'd be more than a few holders breathing easier on the direction of this trend though; even with a 6% yield, well sub of $9 don't look good off $12.80 odd high.


----------



## Knobby22 (14 August 2016)

orr said:


> Bit up and down like a haws draws... I'm out today on the off chance that i'll buy back under the high 9.90's,  or there abouts in the not to far distant... but I've been rong before. There'd be more than a few holders breathing easier on the direction of this trend though; even with a 6% yield, well sub of $9 don't look good off $12.80 odd high.




I have reduced my exposure but retained half my shares. Sold NAB which I bought when their price dipped. BEN is the only bank I now own or want to own. The major banks are very risky imo and that risk is not recognised fully in the price.


----------



## MrBurns (17 July 2017)

Got a few BEN and watching the trading day to day it seems to go up in the mornings then gets sold off in the afternoons, is this just day traders ? 
I presume this might be for all shares.....?
I'm starting to think this is a bit of a mug punters game.


----------



## Trembling Hand (17 July 2017)

MrBurns said:


> Got a few BEN and watching the trading day to day it seems to go up in the mornings then gets sold off in the afternoons, is this just day traders ?
> I presume this might be for all shares.....?
> I'm starting to think this is a bit of a mug punters game.



All those green bars don't really back up what you are saying. The last month or more its finished higher than it open more often than not.


----------



## MrBurns (17 July 2017)

Maybe it's just my perception but it fluctuates a lot for no apparent reason.


----------



## Quant (17 July 2017)

MrBurns said:


> Maybe it's just my perception but it fluctuates a lot for no apparent reason.




Not the place I would be buying it  , Report 14 August  , APRA capital adequacy amendments due any day . I'd suggest upside limited into report , the easy money pretty well gone


----------



## Swingtrader (1 August 2017)

Bendigo Bank have just issued a "application for quotation of additional securities and agreement" to the ASX.
Basically what is that?
As a newbie can anyone tell me what this is and if it has any implications for existing share holders (eg: cheap / free shares) or do they just want to increase the number of shares to raise additional revenue?
Do existing share holders get first crack at the new shares?
TIA
Swingtrader


----------



## peter2 (1 August 2017)

Part 6 of the notice (Purpose of the issue) states that these new shares were created by a conversion of fully paid unquoted shares to fully paid quoted shares. 

It's just paperwork to give notice of the creation of another 11,095 shares.


----------



## Swingtrader (1 August 2017)

peter2 said:


> Part 6 of the notice (Purpose of the issue) states that these new shares were created by a conversion of fully paid unquoted shares to fully paid quoted shares.
> 
> It's just paperwork to give notice of the creation of another 11,095 shares.




Thanks mate


----------



## Quant (22 August 2017)

BEN in the zone for a short fade . Exdiv next week , recent runup short squeeze as much as genuine buyers imo . Heavily shorted stock and reports are ripe for short squeeze rips , exactly whats happened . Multiple suggested its baked imo


----------



## Trav. (18 November 2018)

I have been reading up on some charting methods and while flipping through some charts this one caught my eye. I have added some commentary on it but if anyone has a different view I would appreciate it.

Not trading it just trying to learn...so I would look at structuring it like

Buy @ close price $10.20
initial stop loss @ the previous days low of $9.97
Target $11 (trail SL)


----------



## Trav. (1 December 2018)

Well it reach a high of $10.98 which was pretty close to my guess of $11 so I will take that !


----------



## frugal.rock (19 October 2020)

With a trade maturing today, have rotated the position into BEN.
With the success DOU (a new neobank) share price has had, I figure the UP neobank from Bendigo is more mature and seemingly well liked.
The above reasons coupled with TA, have entered today.
Not my usual style of stock and consideration is on the medium term scale of time.
Year to date chart


----------



## dyna (19 October 2020)

Bendigo's tie up with Tyro Payments in recent days, seems to have lit up the SP of both stocks,too.


----------



## HelloU (21 October 2020)

BEN just got hit with the naughty stick by APRA after (I think) not having enough cash cover.... presume in accordance with its licence requirements. They will now have to carry more cash cover (existing liquidity cover ratio has been increased by 10% for an unknown time).

My take is that this will increase costs for the bank.


----------



## frugal.rock (2 November 2020)

Have exited today on the swelling (small loss + brokerage loss), decided against it for now after hearing around 60% of loan originations are in Victoria and in my opinion, we haven't even got to loan deliquancy stage yet.
Most who have had loans called, were already heading that way.
RBA expected to cut rates, further squeeze on profits, loans will pick up over time though.
Will keep an eye on the situation, but, not for at the moment.


----------



## PZ99 (2 November 2020)

When the SP surpassed that of BOQ recently I switched for the divvy.


----------



## Miner (16 August 2021)

BEN released an excellent financial record with everything towards north excepting market pushed the SP dived down south.
Could not understand why as the metrics shown were impressive.
Only down fall would be the dilution of share capital with Ferocia acquisition. But I felt with escrow, it was an opportunity.
Let me hear from the experts however.


----------



## divs4ever (16 August 2021)

i wouldn't call myself an expert , the BEN results looked OK to me 

 plenty of uncertainty to come but that is where we are currently , and not a lot that BEN can do about that  without a merger( take-over target  on it's bank )

 mine owe me $7.13  , so am not inspired to buy ( more ) or sell 

 DYOR

 there is usually some 'insider gossip' about the second tier banks merging  but that hasn't happened in the last 5 years , so might not happen this year either


----------



## KevinBB (16 August 2021)

divs4ever said:


> there is usually some 'insider gossip' about the second tier banks merging but that hasn't happened in the last 5 years , so might not happen this year either



The lack of insider gossip, to me, is an indication that mergers might be closer than we think.

KH


----------



## divs4ever (16 August 2021)

well MYS has been hungry for years since they grabbed The Rock  , but who is small enough for them to buy  ( ABA might cause ACCC  issues )

  somebody claimed BOQ was  trying for a jaw-dropper but bought ME  and let's face it  , they have continued to be a little disappointing  maybe  they should put a brake on the revolving door  on the boardroom , first 

 a complete left-field would be WES jumping into this sector  they have expressed the desire in the past  , but didn't grab GMY ( or whatever it is now ) , surely they wouldn't take over BOQ  , BOQ needs work  but above $8 doesn't sound like WES


----------



## KevinBB (16 August 2021)

I don't own Bendigo & Adelaide Bank, and they haven't been on my watchlists for quite a while, but what made me start thinking about BEN, and prompted my earlier response, was that they recently started advertising on NSW television touting themselves as one of the big 5.

That might not be so unusual, but I've been back in NSW for 2 or 3 years now, and I've never seen them advertise like this on television before. Maybe it is just that I don't watch enough television ...

KH


----------



## spratty84 (16 August 2021)

I got into ben as well three of the big 4 nab anz wbc during the lows last year so the current dividends are a very healthy rates of return with a large margin of safety. So if ben keeps plodding away making tidy profits i will stay a happy camper.


----------



## divs4ever (16 August 2021)

by  $ value 

 my bank stocks are 

 1. MQG

 2. BOQ

3.  VUK

 4. SUN

5.  ABA

6. BEN

7. MYS

8.  WBC  ( a very small amount   of DRP shares  after i sold WBC ex-div. )

 with MQG  being more than the rest of the 'banks' combined 

 i also have exposure ( of the major banks ) via various LICs and ETFs 

  cheers


----------



## Knobby22 (16 August 2021)

Use to own. They're a good little bank. Pretty well priced though above $10.
5%  yield with new competitors such as Applepay, Afterpay and Athena (the 3 A's) cutting their lunch. Not for me.


----------



## Miner (16 August 2021)

divs4ever said:


> by  $ value
> 
> my bank stocks are
> 
> ...



Where is CBA and NAB


----------



## dyna (16 August 2021)

A reliable dividend-paying stock for the lazy investor, this plodder.  BEN is never gonna shoot the lights out, unless there is a merger out there, somewhere.
That was a big whack to the S.P. today on huge volume. Some big holder must be upset about something...what's wrong with the result, though ? Cost to income ratio...a bit steep at 60%. Not much else to moan about, so I'll keep holding.


----------



## divs4ever (16 August 2021)

Miner said:


> Where is CBA and NAB



 i needed to force GROWTH and in 2011 ( and since ) i could see no sensible path of growth , the ACCC  will continue to limit any meaningful  M&A activity in the 'big 4'  so therefore chose the lesser banks  , who had room to move and acquire meaningful  skills


----------



## Mr Flibble (30 December 2021)

I bought at $9.92. Surely can only go up from there  

They seem pretty switched on, positive customer reviews, streamlining of digital services can will lead to greater efficiencies. The acquisition of Ferocia with it's 'Up' app seems like a good thing.


----------



## frugal.rock (9 February 2022)

BEN results out on Monday.
Looking at picking up some today...


----------



## Mr Flibble (9 February 2022)

Mr Flibble said:


> I bought at $9.92.




Just saw my typo.... I bought at 8.92


----------



## divs4ever (9 February 2022)

better @ $8.92  than a dollar dearer  

 good luck


----------



## frugal.rock (14 February 2022)

Bendigo and Adelaide Bank 2022 Interim Financial Results 
14 February 2022
Bendigo and Adelaide Bank 
(ASX:  BEN), 

Australia’s fifth-largest retail bank, today announced its results for the half year ending 
31 December 2021.  

» Statutory net profit: $321.3 million, up 31.7 percent1 

» Cash earnings after tax: $260.7 million, up 18.7 percent1 

» Net interest margin: 2.09 percent, down 14 basis points on 2H21 

» Total income on a cash basis: $873.4 million, up 2.9 percent1 

» Credit expenses: ($17.8m write-back), down significantly1 

» CET1: 9.85 percent, up 49 basis points1 

» Cash earnings per share: 47c, up 13.5 percent1 

» Fully Franked Dividend: 26.5 cents per share 

» Dividend Reinvestment Plan with a 1.5 percent discount2 

» Total lending: $73.8 billion, up 2.1 percent on 2H21 

» Residential lending: 1.1x system up 8.4 percent3 

» Total funding: $81.9 billion up 5.1 percent on 2H21, with customer deposits up 6.6 percent on 2H21


----------



## frugal.rock (14 February 2022)

frugal.rock said:


> BEN results out on Monday.
> Looking at picking up some today...



So was in on Wednesday, out on Friday (profit), in again on Friday close, out today. (profit)
Cracker of a day.







I'm pleased it wasn't a case of               
BEN Dover...🤭


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## divs4ever (14 February 2022)

am up 35% on my purchase price   , could be worse ( BOQ up 13% despite the extra effort , )  but not as good as MYS , up 60% or MQG up 625% 

 very much a game of timing your buying , and picking the better banker 

 DYOR

 ( but am NOT unhappy with BEN  just the same )


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## rcw1 (13 December 2022)

Good morning
Some good SP gain today (13/12/22) on the back of an announcement:
Bendigo Bank reports as 22 per cent on-year lift in FY23 to date earnings, with low arrears and expects earnings tailwinds to continue in 2H23.

Nice

Holding

Have a safe and happy Christmas and prosperous New Year.


Kind regards
rcw1


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## divs4ever (13 December 2022)

good morning  ,

 glanced at the ann . but have been focused elsewhere ( other stocks )

 BEN   moved the wrong way for  me ( to add more cheap )

 SUN is still trying to unload it's banking business  that MIGHT help BEN a little 

 i hold BEN and SUN  

                                                 cheers and good luck  everyone


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