The Motley Fool

Why the Bank of Queensland share price is down 4% today

The Bank of Queensland Limited (ASX: BOQ) share price is down 3.9% to $10.20 today despite the regional lender not releasing any specific news to the market. The BOQ share price has probably taken a hit due to the weaker-than-expected interim profit report delivered by rival regional lender Bendigo & Adelaide Bank (ASX: BEN) today.

Bendigo Bank shares are down 5% today after it disappointed with a 2.4% slip in interim cash profit to $219.8 million, with Bank of Queensland set to hand in its first half profit on 11 April 2019.

In December 2018 Bank of Queensland lost its CEO who resigned on health grounds as the bank continues the search for a permanent new CEO.

All bank shares took a battering over 2018 on the back of the Royal Commission into financial services, although its final recommendations last week did not include any particularly adverse effects on the banks’ business models.

BOQ shares are down 13% over the past year (excluding the effects of dividends) after FY 2018’s earnings per share fell 3%.

The bank also declined to provide a specific forecast for FY 2019 other than to flag “challenging” conditions being offset by a sound strategy and asset quality.

Top 3 ASX Blue Chips To Buy For 2019

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool’s Top 3 Blue Chip Stocks for 2019."

Each one pays a fully franked dividend. The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies moves – we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor Tom Richardson has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

FREE REPORT: Five Cheap and Good Stocks to Buy now…

Our Motley Fool experts have FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.7% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.