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Bank of Queensland ( (AU:BOQ) ) has issued an update.
Bank of Queensland Limited (BOQ) has announced a goodwill impairment of $170 million in its Retail Bank Cash Generating Unit, reducing the carrying value of this goodwill to zero. This impairment is attributed to structural shifts in the retail banking industry and an increased discount rate, although it will not affect the company’s FY25 cash earnings or CET1 capital ratio. BOQ plans to maintain its dividend payout within the target range of 60-75% of cash earnings. Additionally, BOQ will no longer report certain balance sheet items on an annualised basis to enhance transparency and comparability with market practices.
The most recent analyst rating on (AU:BOQ) stock is a Sell with a A$6.50 price target. To see the full list of analyst forecasts on Bank of Queensland stock, see the AU:BOQ Stock Forecast page.
More about Bank of Queensland
Bank of Queensland Limited (BOQ) operates in the financial services industry, primarily offering retail banking products and services. The company focuses on providing banking solutions to individuals and businesses, with a significant market presence in Australia.
Average Trading Volume: 1,572,255
Technical Sentiment Signal: Buy
Current Market Cap: A$4.78B
For an in-depth examination of BOQ stock, go to TipRanks’ Overview page.