Insights

The Bank of Queensland (ASX:BOQ) share price has fallen 4% since Wednesday. What’s happening?

The bank hasn’t had a great last couple of day.
The post The Bank of Queensland (ASX:BOQ) share price has fallen 4% since Wednesday. What’s happening? appeared first on The Motley Fool Australia. –

The Bank of Queensland Limited (ASX: BOQ) share price has struggled in the last few days.  

After closing yesterday’s trading session at $9.30, shares in the bank have tumbled more than 4% from their highs last Wednesday.

Let’s take a look at what’s been weighing down the Bank of Queensland share price.

Weaker market drags Bank of Queensland share price

The Bank of Queensland hasn’t released any price-sensitive news that could explain the slump in its share price.

As a result, weakness in the bank’s shares can be attributed to several factors

Firstly, general weakness in the broader market over the past few days could explain why the Bank of Queensland share price has struggled.

Concerns over the US economy triggered a broad market sell-off with many investors looking to take profits after a strong gain in 2021.

In addition, shares in the Bank of Queensland could be the victim of weaker sentiment across the banking sector.

This follows several downgrades for notable banks such as Macquarie Group Ltd (ASX: MQG) and National Australia Bank Ltd. (ASX: NAB).

More on the Bank of Queensland share price

Despite struggling over the past few days, shares in Bank of Queensland have had a stellar year thus far.

Since the start of 2021, the bank’s share price has gained more than 24%.

By comparison, the broader S&P/ASX200 Index (ASX: XJO) has only managed to claw 12% for the year.

There have been various catalysts that have helped propel the Bank of Queensland share price higher this year.

The Bank of Queensland has had a strong start to the first-half of FY21.

For the first-half, the bank recorded a 9% increase in cash earnings to $165 million and a 66% lift in statutory net profit after tax to $154 million.

The bank also boosted its interim dividend by 54% to 17 cents per share, fully franked.

In addition, shares in the bank received a boost after announcing its interest to acquire Money Equity (ME) Bank.

Following a capital raise, the Bank of Queensland received approval for the acquisition in early July.

Shares in the bank have also been on the receiving end of some positive broker reports.

Most recently, analysts at JPMorgan rated the Queensland-based bank as the third-best financial share on the market.

The post The Bank of Queensland (ASX:BOQ) share price has fallen 4% since Wednesday. What’s happening? appeared first on The Motley Fool Australia.

Should you invest $1,000 in Bank of Queensland right now?

Before you consider Bank of Queensland, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Bank of Queensland wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Why the Bank of Queensland (ASX:BOQ) share price has beaten the ASX 200 in the last year
The Bank of Queensland (ASX:BOQ) share price is up 5% in 2 weeks
Top broker picks best ASX 200 bank shares to buy coming out of reporting season

The Bank of Queensland (ASX:BOQ) share price is now trading on a forecast 4.4% fully franked dividend yield
The Bank of Queensland (ASX:BOQ) share price is rated as a strong buy by brokers

Motley Fool contributor Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!