How do the experts rate ANZ and Bendigo Bank shares after their earnings reports?

ASX 200 bank shares are outperforming on Friday.

The S&P/ASX 200 Banks Index (ASX: XBK) is currently up 0.43% while the S&P/ASX 200 Index (ASX: XJO) is down 0.13%.

As earnings season continues, all of the banks due to report have now done so.

This has prompted brokers to review their ratings and 12-month price targets.

Let’s take a look at how earnings season played out for one regional and one major bank, and the experts’ conclusions on both.

Bendigo and Adelaide Bank Ltd (ASX: BEN)

The Bendigo and Adelaide Bank share price is down 3.5% to $11.04 on Friday.

This week, Bendigo and Adelaide Bank reported cash earnings of $256.4 million for 1H FY26.

That was a 2.8% increase on 2H FY25 but a 3.3% decrease compared to 1H FY25.

The ASX 200 bank share fell 2.2% on the day of the report.

Brokers have now reviewed their new ratings and 12-month price targets on Bendigo Bank shares.

Ord Minnett reiterated its buy rating and lifted its price target from $11 to $11.50.

Jarden reiterated its hold rating on the ASX 200 bank share with an $11 target.

UBS kept its hold rating with a target of $10.95.

Jefferies reiterated its hold rating and lifted its target from $9.51 to $9.64.

Citi kept its sell rating but lifted its price target slightly from $10.25 to $10.50.

Morgan Stanley kept its sell rating with a price target of $10.40.

Macquarie reiterated its sell rating with a price target of $10.

The Bendigo and Adelaide Bank share price traded at a 52-week high of $13.73 last August.

ANZ Group Holdings Ltd (ASX: ANZ)

The ANZ share is up 0.9% to $40.43 on Friday.

Last week, ANZ revealed a $1.94 billion cash profit for 1Q FY26, which was 75% higher than the 2H FY25 quarterly average.

Management said the strong profit was driven by a 4% bump in operating income and a 21% reduction in operating expenses.

The ASX 200 bank share ripped 8.5% on the day of the report.

The next day, ANZ shares reached a record high of $41 per share.

After going over the numbers, the experts have reassessed their ratings and 12-month price targets for ANZ shares.

Jarden reiterated its buy rating with a $35 target.

Morgan Stanley upgraded ANZ to a buy and raised its 12-month share price target from $36.30 to $41.30.

Macquarie kept its hold rating on the ASX 200 bank share with a price target of $37.

Jefferies reiterated its hold rating on ANZ shares with a price target of $34.55.

Morgans downgraded ANZ to a sell rating but increased its target slightly from $32.57 to $32.65.

Ord Minnett kept its sell rating with a price target of $33.

UBS retained a sell rating but lifted its target from $35 to $36.50.

The post How do the experts rate ANZ and Bendigo Bank shares after their earnings reports? appeared first on The Motley Fool Australia.

More reading

• Recap: Winners and losers from earnings season week 3
• Are ASX bank stocks back in favour after earnings season?
• Is this ASX 200 bank share a buy after its recent result?
• ASX recap: 5 most traded shares last week
• What have we learned from earnings season so far?

Citigroup is an advertising partner of Motley Fool Money. Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Jefferies Financial Group and Macquarie Group. The Motley Fool Australia has positions in and has recommended Bendigo And Adelaide Bank and Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.