Transfer of Analyst Coverage; FVE Unchanged
We transfer analyst coverage of Bank of Queensland. Our AUD 12 per share fair value estimate is unchanged, as are our no-moat and medium uncertainty ratings. At current prices, the shares are fairly priced, trading near our intrinsic valuation.We have made minor changes to our forecasts after a review of key assumptions and the AUD 20 million purchase of Centrepoint Alliance’s premium funding business (expected to settle on Dec. 30, 2016). The business generated AUD 10.1 million in revenue and ...
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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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