The Bank of Queensland Limited (ASX: BOQ) share price has had a rough start to 2022.
It's currently 9.6% lower than it was at the start of the year. As of Wednesday's close, the Bank of Queensland share price is $7.52.
For comparison, the S&P/ASX 200 Index (ASX: XJO) has slumped 5.4% year to date while the S&P/ASX 200 Financials Index (ASX: XFJ) is down just 0.8%.
But one broker is predicting big things to come for the bank's stock. Let's take a look.
Could the Bank of Queensland share price reach $11?
The future is bright for the Bank of Queensland's stock, according to one Aussie broker.
That's right, Morgans believes the Bank of Queensland share price could have a 45% upside, as The Motley Fool Australia's James Mickleboro reported last week.
The broker believes the stock is a good entry point for would-be ASX bank investors due to the company's recent acquisition of ME Bank.
In fact, it noted the cost synergies born from the acquisition are coming to fruition faster than expected. It's also impressed by the company's ongoing transformation.
On the back of its positive sentiment, Morgans has slapped Bank of Queensland's stock with a price target of $11, reports Mickleboro. That suggests a 46% upside on the stock's current value.
On top of that, the broker expects the bank will pay out 49 cents in dividends in financial year 2022.
That would see the Bank of Queensland trading with a 6.5% dividend yield at its current share price.
However, if the broker's share price prediction proves accurate, 49 cents of dividends over 12 months would leave it with an entirely decent 4.45% dividend yield.
The bank has already agreed to provide a 22-cent dividend for the first half of this financial year.
Morgans also expects the bank's dividends to increase to 54 cents in financial year 2023.
