A quick look at Bank of Queensland and Bendigo following the release of the BOQ FY16 earnings result. BOQ.ASX Underlying result was weaker than market expectations, predominately driven by greater than expected margin pressure.
BOQ.ASX FY17 outlook now appears to offer flat EPS growth at best, assuming a $0.78 FY17 dividend, it places the stock on a 6.9% fully franked forward yield.
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BOQ.ASX
BEN.ASX
A technical summary of where we see price action heading is different in BOQ opposed to BEN, whilst we see short term downside pressure in both names, (despite the yield support), a retracement in BEN.ASX back to $10 will likely trigger a buy signal in our algorithm engines. Whereas, BOQ.ASX remains in a structural downtrend and it’s the current short signal that draws our attention.
