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.
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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.
