One bank is weathering the storm looking to be a shining light in a battered sector

Potential Buy Entry Alert BOQ

 

Time Frame : Weekly

Sector : Banks/Financial Services

Key Stats : $4.23 Billion Market Cap, VWAP 10.657, ASX Ranking 95, 4 Week Av Turnover $23,889,039, Current Turnover (Intraday as at time of alert) $3,654,957, PE Ratio 12.5, Div Yield 7.14%.

Company Overview : Bank of Queensland Limited (BOQ) is an Australia-based entity engaged in retail banking, leasing finance and insurance products. The Bank operates in two segments: banking and insurance. BOQ’s operations comprises of Banking, BOQ Finance, BOQ Specialist, St Andrew’s insurance and Virgin Money Australia. As at 31 August 2017, BOQ has 74 Corporate and 109 Owner managed branches, 7 Transaction centers, 628 BOQ branded ATM’s, 2948 REDI ATM’s and 4059 Brokers’ network across Australia.

Broker Consensus : HOLD

 

BOQ – Bank Of Queensland Limited

Even though the banks and financials have been under pressure of late, BOQ looks to be weathering the storm. We are now watching the stock to hold up above 10.00 to build a higher low to give buyers confidence in a battered sector. Watching the lower timeframe daily chart for the higher lows for potential weekly support confirmation.

 

Stock Code : BOQ – Bank Of Queensland Limited

Company Website : www.boq.com.au

Current Price : 10.70

Status : On watch for buy entry setup