Why are BOQ shares falling on a rumoured sale?

MotleyFool04-10

The Bank of Queensland Ltd (ASX: BOQ) share price closed 1.15% lower today at $6.04 amid rumours the ASX bank share may be planning to sell one of its divisions. But it was not the only bank share to ...

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But it was not the only bank share to ...</p>\n\n<a href=\"https://www.fool.com.au/2024/04/10/why-are-boq-shares-falling-on-a-rumoured-sale/\">Source Link</a>\n\n</div>\n","source":"motleyfoolau_stock","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why are BOQ shares falling on a rumoured sale?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy are BOQ shares falling on a rumoured sale?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-10 14:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com.au/2024/04/10/why-are-boq-shares-falling-on-a-rumoured-sale/><strong>MotleyFool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Bank of Queensland Ltd (ASX: BOQ) share price closed 1.15% lower today at $6.04 amid rumours the ASX bank share may be planning to sell one of its divisions. But it was not the only bank share to ...</p>\n\n<a href=\"https://www.fool.com.au/2024/04/10/why-are-boq-shares-falling-on-a-rumoured-sale/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7511","symbol_name":"ESG概念","start_time":0,"source_url":"https://www.fool.com.au/2024/04/10/why-are-boq-shares-falling-on-a-rumoured-sale/","article_id":"2426364094","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2426364094","pubTimestamp":1712730202,"sourceInfo":{"source_id":"motleyfoolau_stock","name":"MotleyFool"},"weMediaInfo":null,"summary":"The Bank of Queensland Ltd  share price closed 1.15% lower today at $6.04 amid rumours the ASX bank share may be planning to sell one of its divisions. But it was not the only bank share to dip on Wednesday. Shares in the Commonwealth Bank of Australia  were down almost 1% at the close of trade, while the ANZ Group Holdings Ltd  and National Australia Bank Ltd  share prices also slipped into the red. The chart below shows that the BOQ share price has dropped by around 30% over the last three years.  Is the way forward for the bank to divest and simplify so that it can focus on its core offering of lending and term deposits?","collect":0,"end_time":0,"defaultTopTitle":"fool.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7511":"ESG概念","CBA.AU":"COMMONWEALTH BANK OF AUSTRAL","ANZ.AU":"ANZ GROUP HOLDINGS LTD","BK4585":"ETF&股票定投概念","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0106831901.USD":"贝莱德世界金融基金A2","NIM.AU":"NIMY RESOURCES LTD","XAO.AU":"标普/澳交所 普通股指数","XJO.AU":"标普/澳交所 200指数","BK4550":"红杉资本持仓","BK4588":"碎股","NIM":"纽文精选市政基金","BEN.AU":"BENDIGO AND ADELAIDE BANK","BK4552":"Archegos爆仓风波概念","XKO.AU":"标普/澳交所 300指数","BK7095":"多种金属与采矿","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","BK7139":"区域性银行","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","BOQ.AU":"BANK OF QUEENSLAND LTD","BK4504":"桥水持仓","BK7135":"综合性银行","BK4127":"投资银行业与经纪业"},"translate_title":"为什么BOQ股票会因为传闻中的出售而下跌？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BEN.AU":1,"ANZ.AU":1,"NIM.AU":1,"NIM":1,"CBA.AU":1,"BOQ.AU":1,"XKO.AU":0.9,"XJO.AU":0.9,"XAO.AU":0.9},"content_text":"The Bank of Queensland Ltd (ASX: BOQ) share price closed 1.15% lower today at $6.04 amid rumours the ASX bank share may be planning to sell one of its divisions. But it was not the only bank share to dip on Wednesday. Shares in the Commonwealth Bank of Australia (ASX: CBA) were down almost 1% at the close of trade, while the ANZ Group Holdings Ltd (ASX: ANZ) and National Australia Bank Ltd (ANZ: NAB) share prices also slipped into the red. The chart below shows that the BOQ share price has dropped by around 30% over the last three years.  Is the way forward for the bank to divest and simplify so that it can focus on its core offering of lending and term deposits? Time will tell. Potential sale of auxiliary business unit According to reporting by The Australian, speculation has been mounting that the Bank of Queensland is moving toward the sale of a business it bought from Investec almost 10 years ago. The business came with $2.4 billion in loans and $2.7 billion in deposits. The acquisition — offering Australian professional finance, asset finance and leasing, and mostly servicing dentists and doctors — reportedly cost $440 million. The Australian reported that analysts believed regional banks were under pressure to simplify their businesses, noting that Bendigo and Adelaide Bank Ltd (ASX: BEN) recently sold its stake in Homesafe and planned to sell out of Cuscal when it floats. Upcoming report BOQ will report its FY24 half-year results and dividend next week (17 April). As my colleague James Mickleboro reported recently, broker Goldman Sachs expects cash earnings of $154 million from BOQ. That net profit is 6.1% lower than the consensus of analyst expectations of $164 million. Goldman Sachs also tipped an interim dividend of 16 cents per share. This is 7.5% lower than the market's expectation (17.3 cents per share) and would represent a 20% decrease year over year. The broker thinks the net interest margin (NIM) could disappoint, as well as a smaller-than-expected loan book. Broker UBS is also negative on the ASX bank share. It has a sell rating on the bank, with a price target of $5 – that implies the BOQ share price could fall this year by around 17% from where it is today. UBS suggested BOQ could generate earnings per share (EPS) of 44 cents, which would imply the current BOQ share price is valued at 14x FY24's estimated earnings. However, the bank could then achieve EPS growth each year between FY25 and FY28 until it reached an EPS of 66 cents in the 2028 financial year.  Of course, these broker forecasts about profit and share price are educated guesses — BOQ could perform much better or worse than expected.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2426364094"}