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The Bendigo and Adelaide Bank Ltd share price has rebounded

Thankfully for its shareholders, the Bendigo and Adelaide Bank Ltd (ASX: BEN) share price has rebounded over the last few days.

With its shares up 0.5% to $10.98 today, the regional bank’s shares have climbed almost 6% since this time last week. This has limited its year-to-date decline to just under 14%.

As well as being caught up in the post-Budget banking sector sell-off, Bendigo and Adelaide Bank’s shares came under heavy selling pressure recently after it announced plans to change the way it accounted for its Homesafe business.

These changes meant that its cash earnings would no longer benefit from unrealised property gains as they had in the past.

Had these accounting changes been in place for its half-year results, it would have reduced its half-year cash earnings by approximately $21.2 million or 4.5 cents per share.

At the current share price Bendigo and Adelaide Bank’s shares provide a trailing fully franked 6.2% dividend.

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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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