BEN - Bendigo Bank

[GreatPig]

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]

 

[26 Broadway]

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

 

[GreatPig]

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

Cheers,
GP

 

[FXST01]

still sitting at about $13

 

[26 Broadway]

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

 

[26 Broadway]

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

 

[theasxgorilla]

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

Will it open up, or down?

 

[Sean K]

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.

 

[theasxgorilla]

UP, 31% on open. Payday for someone.

 

[Halba]

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).

 

[Julia]

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

Julia

 

[nomore4s]

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).

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

 

[CanOz]

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,

 

[YELNATS]

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

 

[vishalt]

grats to Bendigo shareholders!

 

[Halba]

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.

 

[mmmmining]

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.

 

[sleeper88]

It's great news for BEN shareholders

 

[YELNATS]

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.

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.

 

[Halba]

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!