Bendigo & Adelaide Bank's Share Price Rises on 3Q Beat -- Market Talk

Dow Jones
Apr 09

0145 GMT - Bendigo & Adelaide Bank's share price rises 8.9% to A$11.39 after beating expectations in 3Q. The Australian lender reported a quarterly cash profit of A$138 million. UBS says this is 12% higher than consensus hopes. It implies that Bendigo needs a profit of A$108 million in 4Q to meet market forecasts for 2H. That's likely achievable, according to analyst John Storey. "We expect positive earnings revisions after this print," UBS says. Bendigo also announced two new strategic partnerships with Infosys and Genpact. UBS views these as positive, "as regional players need to focus on tech partnerships to compensate against scale headwinds." It had a neutral call and a A$10.95/share price target ahead of the 3Q update. (david.winning@wsj.com; @dwinningWSJ)

 

(END) Dow Jones Newswires

April 08, 2026 21:45 ET (01:45 GMT)

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