Australia's Bank of Queensland falls after Jefferies cuts target price ahead of results

Bank of Queensland

03/10/2025 04:10

** Shares of Bank of Queensland BOQ.AX fall as much as 1% to A$7.28

** Logs largest intraday pct loss since September 25; financial sub-index .AXFJ gains 0.3%

** Lender to report FY25 results on October 15

** Jefferies trims stock's PT to A$6.21 from A$6.28, retains "underperform" tag

** Brokerage says BOQ's net interest margin in focus given weak balance sheet growth and shift to business lending from mortgage lending

** Adds, updates on bank's funding, capital returns will be key issues

** Jefferies forecast FY25 cash earnings growth of 11% to A$381 million compared to last year, in-line with Visible Alpha consensus

** YTD, stock up 8.9% vs AXFJ's 13% gain, including day's moves

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))