|Bid||11.23 x 0|
|Ask||11.24 x 0|
|Day's Range||11.05 - 11.24|
|52 Week Range||9.37 - 11.87|
|Beta (3Y Monthly)||0.72|
|PE Ratio (TTM)||14.95|
|Earnings Date||Aug 12, 2019|
|Forward Dividend & Yield||0.70 (6.80%)|
|1y Target Est||10.74|
Investors are shorting second-tier Australian banks while the majors enjoy their biggest rally in three years, as the market weighs up the long-term impact of a public inquiry that exposed widespread misconduct in the financial sector last year. The capital shift shows investors believe higher regulatory costs will hurt smaller lenders more than the big four market leaders, whose business models - if not their reputations - emerged largely unscathed from the year-long inquiry. Short bets on regional lenders Bendigo and Adelaide Bank and Bank of Queensland spiked over a fifth in the weeks since the inquiry delivered its final report on Feb. 1, Refinitiv data shows.
Moody's Investors Service says that the issuance of Class A notes following the pool upsize to AUD3.8 billion of Torrens Series 2008-1 Trust on 26 February 2019 (the Uplift) will not, in and of itself and as of this time, result in the downgrade or withdrawal of the rating on the Class A notes issued by Perpetual Trustee Company Limited, in its capacity as trustee of Torrens Series 2008-1. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. Moody's has determined that the Uplift, in and of itself and at this time, will not result in the downgrade or withdrawal of the rating on the Class A notes.
Shareholder advisory firm ISS advocated against linking staff pay with customer service at Australia's Bendigo and Adelaide Bank (BEN.AX) arguing such a move would not result in higher shareholder returns, a misconduct inquiry heard on Thursday. This is the first time the role of a proxy adviser has come under the microscope at Australia's Royal Commission inquiry into financial sector misconduct, pointing to areas where the interests of bank customers and shareholders clash. Bendigo's Chairman Robert Johanson testified that the corporate governance firm recommended against the bank's proposal to increase the weighting of a "customer hurdle" in the long-term bonus for its chief customer officer.
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