16/10/2024 17:05

Bank of QLD (BOQ) $6.68

BOQ +6.54%: best day in a few years for BOQ producing a 6.5% beat to consensus for underlying cash profit largely due to stabilized net interest margins as well as an improvement in the business banking division.

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23/08/2024 09:23

Bank of Queensland (BOQ) $5.95

BOQ is attempting to reinvent the wheel before it is too late as it looks to unwind its franchise model, which has been in place for over 20 years, with over 8% of staff set to lose their jobs. The combination of online banking and margin compression has weighed on the QLD business, which is way behind its bigger rivals from a technological perspective. Mergers such as ANZ’s purchase of Suncorp’s bank have left the smaller BOQ even further out in the cold, and perhaps BOQ is trying to present a leaner picture for a potential suitor or partner moving forward.

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18/07/2024 09:50

Bank of Queensland (BOQ) v Commonwealth Bank (CBA)

The relative performance across the ASX Banking Sector has been significant, even in 2024, when they at least all travelled in the same direction. For example, year-to-date, Commonwealth Bank (CBA) has rallied +19.2% while the Bank of Queensland (BOQ) has edged up just +2.9%.

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04/06/2024 09:06

Bank of Queensland Ltd (BOQ) $5.95

BOQ bounced +3.5% on Monday, making it by far the best-performing bank on the day. However, despite delivering a better-than-expected earnings report in late April, the regional bank remains in the shadow of the “Big Four,” and abandoning the larger peers seems to be contrarian for the sake of it. The future headwinds for BOQ are clear, most notably declining Net Interest Margins, rising operating costs and their questionable ability to compete against the majors as technology becomes an ever important aspect in banking.

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23/04/2024 09:05

Bank of Queensland (Ltd (BOQ) $6.10

BOQ delivered a better-than-expected earnings report last week, although the regionals remain in the shadow of the “Big Four.” Cash earnings of $172m were around 5% ahead of consensus, driven largely by beats on bad debts, costs, and the Net Interest Margin (NIM), which fell less than expected to 155bps. This is a good sign for the regional banks, but not good enough for us to consider BOQ.

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17/04/2024 16:50

Bank of Qld (BOQ) $6.10

BOQ +5.17%: 1H results for the regional bank today caused a strong bounce in the share price, though the numbers still showed signs the smaller banks are struggling to compete with the Big 4. Cash earnings of $172m were around 5% ahead of consensus, driven largely by beats on bad debts, costs and the Net Interest Margin (NIM) which fell less than expected to 155bps.

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27/10/2023 09:04

Bank of Queensland (BOQ) $5.22

BOQ has almost halved from its 2021, leaving many yield-hungry investors licking their wounds, although they did enjoy a 21c fully franked yesterday, the primary reason the stock posted a fresh 12-month low on Thursday. BOQ is interesting under $5.25 and while their lack of scale concerns us, deep value is starting to present itself with the bank close to its trough valuation multiples.

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17/10/2023 09:19

Bank of Queensland Ltd (BOQ) $5.42

The reasons for BOQ’s underperformance over recent years are well-noted, including the need to invest more heavily in better systems. However, the stock is down 0ver -21% year to date and is set to yield almost 7% over the next 12-months, including a 21c fully franked dividend later this month.

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11/10/2023 16:40

Bank of QLD (BOQ) $5.35

BOQ – 7.44%: Another poor result for BOQ with FY23 results around 4% below consensus in terms of underlying cash earnings ($450m), which was down 13% vs. FY22 and continues to highlight ongoing issues with this subscale franchise, albeit, this was not a surprise. Margins remained under pressure (NIM 1.69%) which contracted a further 21bps on the half.

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25/08/2023 09:37

Bank of Queensland Ltd (BOQ) $5.97

BOQ is still down -13.8% for 2023 even after its recent bounce back toward $6, the regional bank has struggled given it’s sub-scale footprint and need to invest more heavily in better systems. While the stock is forecast to yield ~8% over the coming 12 months it feels too early to play the contrarian card on this particular bank.

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