Transferring Coverage of Bank of Queensland; AUD 11.50 FVE Unchanged
We confirm our AUD 11.50 per share fair value estimate for Bank of Queensland as we transition coverage to a new analyst. Our no-moat, medium fair value uncertainty and Standard stewardship ratings are unchanged. At current prices, the stock is trading 12% above our valuation. We confirm our fiscal 2017 cash profit forecast of AUD 361 million and fully franked dividend of AUD 76 cents per share based on a 80% payout. Bank of Queensland reports its fiscal 2017 results on Oct. 12, 2017. We forecas...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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