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.
- We believe BOQ is starting to represent value under $6 but this year the weak keep getting weaker, and their lack of scale concerns us.
MM is neutral toward BOQ
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