Bendigo and Adelaide Bank's FY21 financials released today failed to meet Ord Minnett's forecasts, the broker reports post an initial glance over today's release.

It appears slower revenue growth has combined with higher costs and higher tax to miss the broker's expectations. The announced $116m acquisition of Ferocia Pty Ltd, paid for by issuing new shares, will result in dilution by some -1.8%, reports Ord Minnett.

Hold recommendation and the target price of $10.70 are both unchanged while the broker anticipates downgrades to consensus forecasts post today's release.

Sector: Banks.

Target price is $10.70.Current Price is $11.10. Difference: ($0.40) - (brackets indicate current price is over target). If BEN meets the Ord Minnett target it will return approximately -4% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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