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Bank of Queensland Ltd ASX:BOQ

0 opened or increased1 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 1 managers in total.

Position history by manager 1 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

13 Apr 2026 to today

Commentary 2 comments

DateManagerActionSummary

28 Apr 2026Pendal GroupHeldPendal Group continues to hold Bank of Queensland Ltd but remains cautious about the strategic turnaround, noting the company's 1H result missed consensus by 4% driven by a 3 basis point margin decline. Pendal Group highlights that mortgage volumes are shrinking faster than planned, business banking growth is of relatively low quality, margins are not expanding despite mix changes, cost reduction commitment for FY27 appears less certain, and there is no evidence of BOQ improving its share of low-cost deposits. The fund views the extent of headwinds as making a re-rating challenging.

Newsletter, price recorded $6.58

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13 Apr 2026Pendal GroupHeldThe manager observes, in the context of Challenger's acquisition of BOQ's $3.7 billion equipment finance book, that BOQ indicated there would be minimal loss of profit and a $300 million release of capital, which appears to imply marginal economics for CGF. The manager flags this as a deal where the headline figures suggest the financial benefit to Challenger is limited.

Newsletter, price recorded $7.42

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First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 1 managers first commented on BOQ.

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About Bank of Queensland Ltd

Financials, Banks

Bank of Queensland (ASX:BOQ) is restructuring its business and releasing capital. In April 2026, Pendal Group reported BOQ's first-half result missed consensus by 4%, driven by a three basis point margin decline partly due to the timing of rate rises. Pendal also noted Challenger's acquisition of BOQ's $3.7 billion equipment finance book, with BOQ saying there would be minimal loss of profit and a $300 million release of capital. Bank of Queensland operates in the Financials sector within the Banks industry, and Thesis Tracker has captured 2 comments from 1 fund manager, Pendal Group. Founded in 1874 and headquartered in Newstead, Brisbane, BOQ provides retail and business banking, home lending and specialist finance through brands including BOQ, ME Bank, Virgin Money Australia and BOQ Specialist, and is simplifying its operations by converting owner-managed branches and investing in a digital banking platform.

Market cap: $4.5b
Price to earnings: 44.7x
Return on equity: 1.6%
Dividend yield: 6.3%
Price to book: 0.72x
Net margin: 5.9%
52-week range: $5.91 to $7.48

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Bank of Queensland Ltd (ASX:BOQ)?

Fund managers including Pendal Group have invested in Bank of Queensland Ltd (ASX:BOQ).

What opportunities or catalysts do fund managers highlight for Bank of Queensland Ltd?

Pendal highlights a $300 million capital release from selling the equipment finance book to Challenger with minimal loss of profit, which could support capital returns.

What are the key risks to the Bank of Queensland Ltd investment thesis, according to fund managers?

Pendal notes a first-half result 4% below consensus due to margin decline, reflecting competitive pressure in mortgage lending.

What does Bank of Queensland Ltd (ASX:BOQ) do?

Bank of Queensland Ltd (BOQ), headquartered in Newstead, Australia, and founded in 1874, provides financial services through three primary segments: Retail Banking, BOQ Business, and Other. The Retail Banking segment delivers consumer solutions via owner-managed branches, corporate networks, ME Bank, Virgin Money, and third-party intermediaries. The BOQ Business segment offers commercial lending, equipment finance, leasing, cash flow finance, foreign exchange, interest rate hedging, and transaction banking. The Other segment contains the group treasury, insurance, and head office functions. BOQ operates as a diversified financial institution supporting personal and commercial banking needs.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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