The Bank of Queensland Limited (ASX: BOQ) share price has gained a massive 58% over the past 12 months.
This time last year, the bank's shares were trading for $5.90 apiece. Right now, the Bank of Queensland share price is $9.32.
Comparatively, the S&P/ASX 200 Index (ASX: XJO) has gained 25% since this time last year. Additionally, the All Ordinaries Index (ASX: XAO) has increased by 26%.
Not to mention, only 2 other ASX 200 banks' share prices – those of National Australia Bank Ltd (ASX: NAB) and Virgin Money UK CDI (ASX: VUK) – have outperformed the Bank of Queensland's over the last 12 months.
So, what's been causing Bank of Queensland to outperform the broader market? Let's take a look.
What's caused the Bank of Queensland share price gains?
The Bank of Queensland's shares have been surging over the last 12 months. And there's been plenty of news to push them along.
The first big move from the Bank of Queensland stock came in October when the bank released its full-year results.
As The Motley Fool Australia reported at the time, while the bank's FY21 results were down on those of FY20, it performed better than the market had expected.
Thus, the Bank of Queensland share price was boosted 5% on the back of its full-year earnings.
Then, the Bank of Queensland released the news that would keep the market's interest for much of 2021. It announced it was to acquire Money Equity (ME) Bank for around $1.3 billion.
The bank completed a capital raise to get the funds for the purchase.
On returning from the trading halt during which it announced the acquisition, the Bank of Queensland's shares gained a massive 12.7% on 23 February.
It had another great day on the ASX when the treasurer approved its acquisition of ME Bank, which was then finalised on 1 July.
Since then, the Bank of Queensland share price has gained around 4%.
