Potential Buy Entry Alert to Watch BEN
Time Frame : Weekly
Sector : Banks/Financial Services
Key Stats : $5.02 Billion Market Cap, VWAP 10.349, ASX Ranking 82, 4 Week Av Turnover $15,455,454, Current Turnover (Intraday as at time of alert) $4,232,732, PE 11.4, Div Yield 6.80%.
Company Overview : Bendigo and Adelaide Bank Limited (BEN) provides a range of banking and other financial services including consumer, residential,business and commercial lending, deposit taking, payments services, wealth management, funds management and superannuation,treasury and foreign exchange services. The Group conducts its activities predominantly in Australia and conducts businessvia it’s three divisions which includes Local connection, Partner connection and Agribusiness Division.
Broker Consensus : HOLD/SELL
BEN – Bendigo and Adelaide Bank Limited
BEN is heading lower along with the ‘Big Four’ but may be starting to find buyers interested at current levels. There is a long way to go yet and a lot of work to do for price, but we are see early signs of rejecting support around 9.75. Watching for a major higher low now for confidence that buyers are happy to step in at higher prices for a drive up.
Stock Code : BEN – Bendigo and Adelaide Bank Limited
Company Website : www.bendigoadelaide.com.au
Current Price : 10.35
Status : On watch for Buy entry setup
