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The latest announcement is out from Bendigo & Adelaide Bank ( (AU:BEN) ).
Bendigo and Adelaide Bank announced its agreement to acquire RACQ Bank’s retail lending assets and deposits, subject to regulatory approvals. This acquisition, expected to complete in the first half of 2027, aligns with the bank’s strategy to enhance its deposit base and geographic diversity, particularly increasing its presence in Queensland. The transaction is anticipated to be financially beneficial, contributing to the bank’s return on equity and cash earnings per share. The integration will leverage Bendigo’s existing banking system, aiming for cost efficiency and improved shareholder returns.
The most recent analyst rating on (AU:BEN) stock is a Sell with a A$10.50 price target. To see the full list of analyst forecasts on Bendigo & Adelaide Bank stock, see the AU:BEN Stock Forecast page.
More about Bendigo & Adelaide Bank
Bendigo and Adelaide Bank operates in the financial services industry, primarily offering banking products and services. The company focuses on retail banking, providing loans, deposits, and other financial services to customers, with a strong emphasis on community engagement and customer service.
Average Trading Volume: 1,325,567
Technical Sentiment Signal: Hold
Current Market Cap: A$5.73B
See more insights into BEN stock on TipRanks’ Stock Analysis page.