Bendigo Bank (BEN) +11.28%: We touched on a strong BEN result this morning with cash profit coming in at $220m v $173m expected, a 27% beat however I was looking at other previews this morning and Credit Suisse had $126m pencilled in, a huge beat to those bearish / wrong assumptions. BEN announced an interim dividend of 23.5c (v 15c expected) which was a 57% payout ratio plus they expanded margins. This was a really strong result relative to downbeat expectations plus it’s another sign of a resurgent banking sector. We’ve made one tweak around our banking exposure recently going up the risk curve buying Virgin UK (VUK) however looking at the relative performers in the space today with CBA down and the rest up, it seems like money may start to flow into the laggards i.e. sell CBA buy WBC as an example.
scroll
Question asked
Question asked
Question asked
Thursday 28th March – ASX200 +80pts, All Time High, Retail Sales
Close
Performance for February & 4 stocks we like here and now
Close
Thursday 28th March – DOW up +477pts, SPI up +60pts
Close
Related Q&A
The future for Bank of Queensland (BOQ)
Why has Bendigo (BEN) outperformed Bank of Queensland (BOQ)?
Does MM prefer BEN or BOQ moving forward?
Relevant suggested news and content from the site
Podcast
LISTEN
Thursday 28th March – ASX200 +80pts, All Time High, Retail Sales
Daily Podcast Direct from the Desk
Video
WATCH
Performance for February & 4 stocks we like here and now
Recorder Friday 8th March
Podcast
LISTEN
Thursday 28th March – DOW up +477pts, SPI up +60pts
Daily Podcast Direct from the Desk
Members only
UNLOCK MARKET MATTERS NOW
Take a free trial.
No payment details required.