Bank of Queensland Transfer of Analyst Coverage
We transfer analyst coverage of Bank of Queensland. We reaffirm our current forecasts, our DCF-based fair value estimate of AUD 12 per share and our no-moat ratings. We are upgrading our uncertainty rating to medium from high due to increasing confidence in the relatively new CEO and the increasingly diversified growth strategy. The balance sheet is solid, the business model sufficiently diversified and credit quality is good. At current prices, the shares are undervalued, trading 11% below our ...Bank of Queensland is involved in providing retail banking, leasing finance, and insurance products, to its customers. Co. operates in two segments, Banking and Insurance. The Banking segment is engaged in retail banking, commercial, personal, small business loans, equipment, debtor finance, treasury, savings and transaction accounts. The Insurance segment is engaged in customer credit insurance, life insurance, accidental death insurance, funeral insurance and motor vehicle gap insurance. As of Aug 31 2016, Co. had total assets of $50.85 billion and total deposits of $36.72 billion.
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