Bank of Queensland’s year: Challenges, earnings, and outlook
In the realm of profit announcements, cash earnings typically reign supreme for most banks, though Westpac has reverted to using statutory earnings.
Read MoreIn the realm of profit announcements, cash earnings typically reign supreme for most banks, though Westpac has reverted to using statutory earnings.
Read MoreThe Bank of Queensland (BoQ) has become the latest listed Australian financial group to be pinged by key financial regulators AUSTRAC and APRA.
Read MoreUpdates Thursday from energy major Santos, whose revenue is headed in the wrong direction, and Bank of Queensland, who confirmed they are in the regulator’s sights.
Read MoreInvestors ended up being pretty sanguine on Friday about the Bank of Queensland announcing $260 million in provisions, lower profit and dividend, and possible pressure from regulators.
Read MoreBank of Queensland has announced that ex-Chair Patrick Allaway will take over the role in a full-time capacity until 2024 after an unsuccessful external search for a suitable candidate.
Read MoreBank of Queensland shares fell more than 5% yesterday on news that it is looking for a new CEO after removing incumbent George Frazis from the position.
Read MoreInvestors pushed Bank of Queensland shares sharply higher yesterday in the wake of the bank’s release of its 2021-22 annual results that seem not to have contained any land mines.
Read MoreThe Add rating and $11 target price are unchanged.
Read MoreBank of Queensland has lifted interim payout to shareholders by nearly 30% after ra solid rise in earnings for the February half, but a slide in its net interest margin will worry some investors.
Read MoreMacquarie downgrades its rating for Bank of Queensland to Neutral from Outperform. The target price falls to $9 from $9.25.
Read MoreBank of Queensland (ASX: BOQ) remains upbeat despite ongoing margin pressure arising from the continuing low level of official interest rates.
Read MoreDespite a solid result and higher dividend, Bank of Queensland shares led the bank sector lower as investors sold on a warning of pressure on profit and interest margins in the coming year.
Read MoreThe Add rating and $10.80 target are unchanged.
Read MoreCommonwealth Bank shares lost more than 5% on Monday after the company announced the sale of its general insurance business to the South African owners of the Real Insurance brand.
Read MoreThe Bank of Queensland has joined its larger peers, slicing its collective provisioning for the 2020-19 year by $75m thanks to the improved economic outlook.
Read MoreThe Add rating is unchanged and the target is increased to $10.50 from $10.
Read MoreInterim dividends are back at Bank of Queensland after first-half profits rose 9% to $165 million, led by a turnaround in its retail banking arm.
Read MoreIt’s now up to the Bank of Queensland board and management to make its biggest deal in its history work after the retail funding for the $1.35 billion purchase of ME Bank was completed.
Read MoreThe institutional raising by Bank of Queensland to help fund its purchase of ME Bank seems to have wasted $60 million or more judging by the 9% jump in the share price on Tuesday.
Read MoreThe Bank of Queensland has confirmed the $1.33 billion purchase of ME Bank and has asked investors for $1.35 billion to fund the deal.
Read MoreEverything needs to fall into place for Bank of Queensland to achieve an acceleration in credit growth in FY21, despite a strong balance sheet.
Read MoreAs expected the Bank of Queensland has reported a big drop in full-year earnings and slashed its final and only dividend for the 2019-20 year to August 31.
Read MoreBank of Queensland has revealed it will take loan impairment losses of $175 million. This is more than six times the figure tipped back in April and raises doubts about whether the Brisbane-based regional bank will be able to pay a final dividend.
Read MoreAssuming the lack of a bad debt apocalypse, the big banks certainly look cheap. But the smaller banks look even cheaper, which suggests there’s better value at the minnow end which is more oriented to mortgages than business lending.
Read MoreBank of Queensland’s first half result missed the broker on slower revenues and higher expenses. As the broker had expected, following APRA’s directive, the bank has deferred its interim dividend. On the expectation of increased loan impairments, the broker cuts FY earnings forecasts by -12%.
Read MoreBrisbane-based regional bank, Bank of Queensland has become the first Australian financial group to heed the call by the regulator, APRA for a rethink and possible pause on dividends and other capital management moves.
Read MoreEftpos provider Tyro Payments has withdrawn the guidance in its prospectus while Bank of Queensland has also scrapped its 2019-20 earnings guidance but maintains that its capital position and funding are strong after a recent $340 million capital raising.
Read MoreAnalysts argue Australia’s banks are in a much better position to weather this storm than they were in 2008, and have been oversold on that basis.
Read MoreCiti upgrades the banking sector to Buy. Even in a severe bad debt scenario the current crisis is not likely to de-stabilise the sector such as what occurred in the GFC.
Read MoreAt least ten analysts have put out notes on BOQ following its $250 million institutional capital raising from institutional shareholders. At least one didn’t like the idea of the issue.
Read MoreBank of Queensland shares went into a trading halt yesterday to allow the Brisbane – based finance group to raise $275 million in fresh capital from shareholders.
Read MoreThe Bank of Queensland’s 2018-19 full-year profit drop will turn out to be the canary in banking’s coal mine for the next year or so.
Read MoreThe clean out of executives at the Bank of Queensland has started in the wake of the appointment of a new CEO in the shape of former senior Westpac executive, George Frazis as CEO.
Read MoreBank of Queensland has appointed George Frazis as CEO, to take over September 5. Mr. Frazis was formally the chief executive of the consumer bank at Westpac ((WBC)). Citi expects investors will be optimistic about the appointment and believes Bank of Queensland is well-placed as a likely participant in any industry consolidation.
Read MoreBank of Queensland has filled its vacant CEO role, a week after revealing a new chair.
Read MoreEarlier this week it was the surprise departure of Michael Cameron as CEO of Suncorp, on Wednesday its smaller Brisbane-based rival, Bank of Queensland revealing that chairman Roger Davis will step down from his position in October.
Read MoreFollowing the first half result, Credit Suisse downgrades earnings by -3-8%, envisaging the bank will struggle to offset increased costs. The broker’s dividend profile is also lower, reflecting a more sustainable payout ratio.
Read MoreA sign of things to come from the Bank of Queensland’s poor result and dividend cut when the ANZ, NAB, and Westpac report their interims early next month?
Read MoreWestpac has slipped out a Q1 update revealing a 6.8% rise in cash earnings, BoQ however expects its earnings for the half-year to be down 6% to 9% when it releases them in April.
Read MoreNot everything’s going right for the smaller banks, but the findings of the Hayne Royal Commission present a perfect opportunity to woo discontented Big Four customers. Should investors follow?
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