Preview: Analysts lower H1 dividend view for Bank of Queensland on margin pressure

Bank of Queensland

16/04/2024 04:39

** Bank of Queensland  BOQ.AX  pares early losses to trade
unchanged at A$5.82 as of 0253 GMT
    ** Analysts at Citi expect dividend to decline to 17
Australian cents per share (cps) in 1H24, from last year's 20 AU
cps, on margin pressure
    ** However, with decline in current net interest margin
(NIM) starting to wane, Citi expects FY24 to prove to be a
"trough" for dividends and earnings
    ** Adds it expects, "possibly bravely", for NIM to stay
broadly flat looking forward
    ** UBS expects 1H24 dividend of 16 AU cps, while NIM
expectation is of 1.58%, slightly above Visible Alpha consensus
of 1.53%
    ** Both UBS and Citi reiterate their "sell" ratings; Citi's
PT is A$5.05, UBS's is A$5.00
    ** Twelve among 14 analysts rate the stock "sell" or lower;
median PT is A$5.04 – LSEG data
    ** BOQ to announce 1H24 results on April 17
    

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))