Australian (ASX) Stock Market Forum

BOQ - Bank of Queensland

Jump to new
nulla nulla said:
At these levels it has a 7% fully franked yield. Also the price has been pushed down again to just above the GFC lows of March 2009.

View attachment 44012

IMO the share price is bloody ridiculous at this level. Queenslanders will rebuild after the floods and sort their finances, they are unlikley to default on their mortgages in any material numbers. I see boq recovering in the short to medium term to more than $9.00
As always dyor, what would i know.
Click to expand...

Looks like the only thing I got right back then was "As always dyor, what would I know."

The CEO was on Business last night talking about the present and the future for BOQ. He made the point that they are tightening procedures and it reflected in the second half being profitable (but obviously not enough to wipe out the losses for the first half).
I read somewhere that the main problem they faced was the drop in property prices in the South East of Qld and an over exposure to development in this area. That would be the Goald Coast area wouldn't it?
 
nulla nulla said:
Looks like the only thing I got right back then was "As always dyor, what would I know."

The CEO was on Business last night talking about the present and the future for BOQ. He made the point that they are tightening procedures and it reflected in the second half being profitable (but obviously not enough to wipe out the losses for the first half).
I read somewhere that the main problem they faced was the drop in property prices in the South East of Qld and an over exposure to development in this area. That would be the Goald Coast area wouldn't it?
Click to expand...
Not just the Gold Coast. Coastal developments north of Brisbane have taken a real beating: down about 25% where I live. New estates just dead. Display homes getting no one through them.
 
Virgin Money sold to Bank of Queensland

"The Bank of Queensland has come under fire for encouraging gambling"?

"The Bank of Queensland paid $40 million for the Virgin Money brand."!

 "Business day"

Richard Branson is selling his Australian Virgin Money business to Bank of Queensland for $40 million, three years after vowing to take on the big banks through his personal finance arm.

The regional lender said on Wednesday it would snap up exclusive rights to Virgin's brand in Australia, which has over 150,000 credit card, insurance and superannuation customers.
BOQ will pay $30 million of the deal price in its own stock and about $10 million in cash. It will receive exclusive use of Virgin's brand in Australia for up to 40 years.
The lender will also pay Mr Branson's company a royalty, and Virgin Group will get a seat on the board of Bank of Queensland.
The deal is the latest chapter in Virgin Money's long-running attempt to grab a bigger slice of the financial services market in Australia, after previous tie-ups with Westpac and Macquarie Bank failed to deliver.

"With that been announced, it made me wonder what is BOQ going to do with all that Virgin money"?

BOQ's managing director, Stuart Grimshaw said the deal would give the bank a greater chance to sell financial products to a wider range of customers.
“It will enable us to sell BOQ-manufactured banking products marketed under the Virgin Money Australia brand to customers who would be unlikely to walk into one of our branches, and provides a low risk, high potential entry point into online funds management distribution with an established brand," Mr Grimshaw said in a statement.
Mr Branson said Australia remained "one of Virgin's most important markets."
“I am excited that, in partnership with BOQ, we will be able to develop more leading products and distribute them even more widely, so many new customers will get to experience the benefits of Virgin Money," he said in a statement.

"Sounds like good news for BOQ. But how will it travel"? "What happens to virgin Money"? ( Investment)?

Brian Bissaker, the previous head of Colonial First State, ( choice ) will become chief executive of Virgin Money Australia.
BOQ said Virgin Money Australia was a loss-making business because it was still in a start-up phase.
It comes after Mr Branson relaunched Virgin Money in Australia with financial backing from Citi in 2010, vowing to take on the big banks.
Citi will continue to provide the "white label" credit cards under the deal with BOQ – the US bank also provides BOQ's credit cards.
Virgin previously developed plans to take on the home loan market with Macquarie, which took a 10 per cent stake in Virgin Money's Australian operations 2005.
But these plans fell apart during the global financial crisis and Macquarie sold its stake back to the British parent company.
And in 2007, Virgin ended a partnership with Westpac on credit cards due to growing competition between the rivals' brands.
In early trade Bank of Queensland shares were down 0.7 per cent, to $9.59.

"Wow quite an investment from BOQ..But can it put it all to its greater advantage and capitalise?
 
Positive reaction to BOQ's annual results today, SP up about 7%: dividend up 12%.:)
 
Julia said:
Positive reaction to BOQ's annual results today, SP up about 7%: dividend up 12%.:)
Click to expand...

Definitely a strong positive reaction. The headline results were in line with consensus and from a broker's view, of high quality. It's had a strong run up since the market update mid August and a new 3 year high today.

I am still dirty at myself for not buying on the open.
 
skc said:
Definitely a strong positive reaction. The headline results were in line with consensus and from a broker's view, of high quality. It's had a strong run up since the market update mid August and a new 3 year high today.

I am still dirty at myself for not buying on the open.
Click to expand...

Quite correct :xyxthumbs
Unfortunately I didn't take the full calculated volume at the time.
 

Attachments

  • BOQ D 101013.png
    BOQ D 101013.png
    70.6 KB · Views: 11
BOQ presently up 11c while the XJO and XAO are well down. I can't see any news for BOQ. Anyone heard anything in particular?
 
Julia said:
BOQ presently up 11c while the XJO and XAO are well down. I can't see any news for BOQ. Anyone heard anything in particular?
Click to expand...

I haven't heard anything funnymental, but the recovery doesn't surprise me either:
On the 7th, they went ex-div 30cFF; under normal circumstances, such a dividend is quickly forgotten. I reckon that's the case for BOQ, and they're simply resuming their pre-div move North.

BOQ n 18-11-13.gif
 
pixel said:
I haven't heard anything funnymental, but the recovery doesn't surprise me either:
Click to expand...

Nor me. BOQ fell off the rails somewhat and was completely out of favour for quite a while, so the market no doubt wanted to see some tangible improvement. An easy way to see which banks have been in favour is to see how well they have recovered since the 2007 high.

CBA is 126% of the 2007 high
WBC 110%
ANZ 102%
NAB 77% (my least favourite and in my view the worst managed bank over the past 15 years)
BOQ 64%
BEN 62%, with some real problems.

BOQ has been getting its act together and I am happy with their recovery strategy, as obviously the market is as well.

I arrived a bit early and was stopped out for a loss but but came back in at the next break.

I think today is a combination of technical triggers and people having absorbed the recovery strategy document.

There are many technical indicators, even the Guppy CBL has come in to play.

Cheers
Country Lad

boq 18 Nov 13.gif
 
Julia said:
BOQ presently up 11c while the XJO and XAO are well down. I can't see any news for BOQ. Anyone heard anything in particular?
Click to expand...

Bell Potter increased BOQ's price target from $11.65 to $13 is the only news I've read today on BOQ. Whether that is responsible for the outperformance is anyone's guess.
 
skc said:
Bell Potter increased BOQ's price target from $11.65 to $13 is the only news I've read today on BOQ. Whether that is responsible for the outperformance is anyone's guess.
Click to expand...
That might well be at least the initial spur, then it has gathered its own momentum.
Thanks for other comments also.
 
Hi All
Just wondering if anyone has any ideas on BOQ's massive volume spike and underperformance today.
AGM tomorrow but so what???

Sparf
 
I hold BOQ in my super fund but recently it has been struggling- more so than many other stocks. Seems to on a downward spiral.

Any thoughts others are willing to share would be welcome.
 
telefomin said:
I hold BOQ in my super fund but recently it has been struggling- more so than many other stocks. Seems to on a downward spiral.

Any thoughts others are willing to share would be welcome.
Click to expand...

It looks like it is simply moving inline with other listed banks so the decline doesn't appear to be company specific.
It did go up 50%+ in 12 months prior.

Just making an observation - I am not saying whether it will or won't keep falling.
 
Thanks skc. I thought BOQ was/is really struggling recently in comparison to other banks. Thinking of down sizing at least.
 

Similar threads

BossMan.
The planning of a portfolio
2
Replies
29
Views
753
Value Collector
Value Collector
ducati916
November 2024 DDD
2 3
Replies
53
Views
4K
ducati916
ducati916
rolly1
XJO, Gear, Spi, Overwrites & CC's (no not the chips)
2
Replies
21
Views
3K
Rosscoe62
Rosscoe62
Dona Ferentes
The role of Private Equity
Replies
4
Views
1K
qldfrog
qldfrog
basilio
Ozempic: Magic Pill or Devils Bargain?
Replies
10
Views
1K
sptrawler
sptrawler
Top