Bank of Queensland Ltd (ASX: BOQ) shareholders have been a a sad bunch of investors of late, I'd wager. This ASX 200 bank share has certainly had a year to forget in 2023 to date. The Bank of Queensland share price started the year at $6.79 a share and even spent some time above $7 in the early months of 2023.
But fast forward to today, and those same shares are asking just $5.12 each. Yep, BoQ shares are down almost 25% year to date, including the 0.87% the bank has shed so far this Tuesday.
BoQ's woes are so pronounced that the bank has even found itself on the list of the ASX's most shorted shares in recent weeks. Hardly a badge of honour.
The most recent catalyst for BoQ's share price woes came earlier this month when the bank revealed its full-year results for the 2023 financial year. As we covered at the time, these earnings disappointed investors.
Bank of Queensland unveiled a sharp 70% drop in statutory profits after tax to 124 million, as well as an 8% slide in cash earnings to $450 million. That led to a 4.2% dividend cut for the bank's final dividend for 2023 to 21 cents per share.
BoQ shares fell significantly on this earnings report's release, and have been stuck in the same rut ever since.
So what might November bring for this embattled bank share?
Bank of Queensland shares could be moved by interest rates and earnings
While it's foolhardy to do month-on-month share price predictions for any ASX share, there are a couple of things happening next month that could impact the BoQ share price worth discussing.
Firstly, we have another interest rate decision happening in early November, on Melbourne Cup Day to be precise. Most commentators are expecting the Reserve Bank of Australia (RBA) to again raise interest rates to what would be the highest levels since 2011.
If the RBA does raise interest rates (or even if it doesn't), it will probably have at least some effect on most ASX bank share prices, given how rate changes impact banks more than almost any other company. So watch that space.
Another thing BoQ shareholders should keep an eye on next month is the upcoming earnings of three other major ASX banks.
National Australia Bank Ltd (ASX: NAB), Westpac Banking Corp (ASX: WBC) and ANZ Group Holdings Ltd (ASX: ANZ) are all scheduled to release their full-year earnings for the 2023 financial year in November. Westpac is first up, with investors getting a look at the books on 6 November next week.
Given we heard from Commonwealth Bank of Australia (ASX: CBA) back in August, these earnings will give us all a fresh, compelling insight into the financial health of three of the big four banks next month. If they collectively outperform, or underperform, expectations, it could have a big impact on how investors treat Bank of Queensland shares in November.
Don't forget about this ASX 200 bank stock's next dividend
Finally, it's worth mentioning that BoQ shareholders will be treated to the bank's own final dividend next month. Investors will receive their paycheque on 16 November. This dividend from BoQ will come in at a fully franked 21 cents per share (as mentioned above).
The BoQ share price has already traded ex-dividend for this payout, so we probably won't see too much share price disruption on that front. But still, it's one of the biggest events in BoQ's calendar, so no doubt investors will be looking forward to that.
Bank of Queensland shares have had a rough October. Let's see how they do in November.
